Oil prices rallied on Thursday. The ICE Brent front-month end the day at $107.59/b a 2.1% increase and NYMEX WTI front-month closed 3.3% higher at $105.36/b. The move was triggered by the comment of the German Economy Minister who said that Germany, a country that was reliant on oil deliveries from Russia, would be able to…
European gas prices dropped yesterday as the impact of the halt in Russian deliveries to Poland and Bulgaria started to fade. The strong LNG supply in Europe has returned to the fore, driving spot prices significantly down in the markets that benefit from high LNG imports (UK, France, Spain). The drop in coal prices (-4.43%…
Surprising contraction of the US GDP in Q1 (-1.4% qoq annualised): as expected, inventories contributed negatively to growth, as did public spending, but it was above all foreign trade that weighed on growth, with a very sharp rise in imports (+17.7%) and a decline in exports (-5.9%). But the core of growth, private domestic demand (consumption,…
The European power spot prices remained once again overall steady and just below the clean gas costs yesterday amid mostly unchanged fundamentals. The day-ahead prices hence averaged 230.14€/MWh in Germany, France, Belgium and the Netherlands, +9.21€/MWh day-on-day but could face some pressure for tomorrow and the upcoming weekend from the increasing solar generation forecasted and…
Oil benchmarks were mixed yesterday, they started moving up, the Brent reached $106.35/b, then the market made a U-turn and Brent touched $103.27/b to end the day at $105.32/b gaining less than 0.01%. NYMEX WTI front month followed a similar path to close stable at $102.2/b. At first it was the Russian decision to stop…
