The power spot prices were mixed in northwestern Europe yesterday, slightly up in France and the Netherlands, but down in Germany and Belgium amid rising temperatures and surging wind output. The day-ahead prices reached 189.17€/MWh in the four countries, -7.25€/MWh with prices ranging from 91.00€/MWh in Germany to 280.10€/MWh in France. The carbon prices started…
Crude prices remained volatile, with an intraday correction of 3%, to end up gaining back most of it, at 72 $/b for the February ICE Brent contract. Oil-specific volatility remained markedly above equity volatility, which has usually moved in tandem during episodes of expected downward demand revision akin to the one we are experiencing. The…
It was to be expected: the simultaneous emergence of the Omicron variant and the peak of inflation (the inflation rate in the euro zone reached 4.9% in November!) is confusing the financial markets. After Moderna’s CEO’s statements on the probable ineffectiveness of existing vaccines against the new variant, other less pessimistic comments from other laboratory…
Amid unchanged fundamentals, European gas prices weakened slightly overall yesterday. The (moderate) drop in Asia JKM prices (-1.91%, to €107.482/MWh, on the spot) helped accompany the drop. On the spot pipeline supply side, Norwegian flows were slightly up yesterday, at 348 mm cm/day on average, compared to 343 mm cm/day on Wednesday. Russian supply was…
The power spot prices faded in northwestern Europe yesterday, driven down by forecasts of stronger wind output despite the colder temperatures. The day-ahead prices averaged 220.84€/MWh in Germany, France, Belgium and the Netherlands, -26.83€/MWh day-on-day. The EUAs pursued their sharp ascend and climbed above 75€/t to another fresh record on Thursday, lifted by continuous buying…
