Prices increased again yesterday in most European gas markets. As expected, Russia suspended yesterday deliveries to Poland and Bulgaria after they refused to pay for supplies in rubles, raising concerns more European customers could be cut off. However, total Russian flow were up yesterday, averaging 223 mm cm/day, compared to 207 mm cm/day on Tuesday,…
EUR continued to fall against USD yesterday, and reached 1.0501 a 5-year low. After a brief rebound the pair is again trading lower this morning. This results from the looming recession in Europe due to the war in Ukraine and from the hawkish policy the Fed is planning to follow. For the same reason, JPY…
The European power spot prices edged down yesterday on an early bearishness of gas prices and forecasts of warmer temperatures and strong solar generation offsetting the ongoing wind shortage and weaker nuclear availability. The day-ahead prices averaged 220.93€/MWh in Germany, France, Belgium and the Netherlands, -12.92€/MWh day-on-day. The carbon prices timidly rose throughout Tuesday with…
European gas prices increased strongly yesterday after PGNiG, the state-controlled Polish company, said Russian gas supplies to Poland under its long-term contract with Gazprom were to be completely suspended from April 27 after it refused to settle its bills in rubles. Obviously, this decision by Gazprom has raised serious concerns about the future of Russian…
Oil benchmarks bounced back yesterday: at market close, ICE Brent Front month settled at $104.99/b climbing by +2.6% while the NYMEX WTI closed +3.2% higher at $101.70/b. Monday prices drop was driven by the prospect of an economic slowdown in China due to zero-Covid strategy with stringent lockdowns, Tuesday turn around was supported by the comment…
