Fed ready to tighten the screw
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…
European gas prices were mixed on Friday. Lower residential gas demand due the sharp rise in temperatures and higher pipeline supply exerted downward pressure on spot prices. Indeed, Norwegian flows rebounded significantly on Friday, averaging 285 mm cm/day, compared to 265 mm cm/day on Thursday, after capacity at the Karsto gas processing plant recovered. As for Russian flows, they remained stable once again, at 332 mm cm/day on average.
By contrast, curve prices were more resilient. Ignoring the drop in parity prices with coal for power generation (both EUA and coal prices were down), they benefited from a technical rebound.
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