Despite easing of CO2 prices, the electricity futures market continued to rise, drained of any downward momentum by rises in natural gas futures. Brent rose in anticipation of higher global demand, due to oil production in the Gulf of Mexico remaining at a standstill in the wake of Hurricane Ida.
France
The whole energy mix (coal, gas, oil) had very bullish development in first half of week before a significant correction. Some price easing might be connected with problems with UK-France power interconnector, which means higher power price for UK and more power supply for continental Europe.
Czech Republic & Slovak
Facing proven speculation on the CO2 market, a complaint was filed with ESMA (the EU's financial supervisory body) for alleged market abuse by major financial players. The natural gas futures market continued to rise due to storage levels. The price of Brent fell last week.
France
Electricity, natural gas, CO2, and coal prices rose sharply during the week. Russian gas deliveries and maintenance work on Norwegian gas systems caused the prices of gas to surge and others followed. Oil remained mostly stable, unaffected by the price of gas.
Germany
The month of August is marked by the accelerating rise in electricity prices. The combined increases in the price of CO2, which is also breaking records, gas and coal explains this situation. Gas continues to rise uncontrollably. Unlike other commodities, the price of oil has decreased during most of August.
France
Brent prices fell following the validation of the increase in oil production by OPEC+ members, before rising again. The closure of refineries in Louisiana following the passage of Hurricane Ida can be pointed to as the defining factor. The natural gas futures market remained very tense.
France