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.
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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.
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Carbon reached a new record price and in tandem with the increase in the price on the natural gas market, the electricity market indexes are at record highs. The market is still fearing a harsh winter due to the low level of gas storage for the season. Crude oil prices climbed driven by renewed optimism about demand and supply.
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Electricity saw new all-time highs this week, the supply of LNG remains low, but stocks have increased slightly - 62% vs 87% this time last year. Thursday saw a major shakeup with expectations of a tapering by the Fed, only for nothing to happen. The price of oil fell throughout the week over pandemic resurgences.
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Last week was marked by a surge in electricity prices on the futures market. This is caused by the equally bullish trends in the natural gas, coal and carbon markets. The risk of gas shortages in the event of extreme cold next winter is felt. The oil market held up for the most part but new COVID variants are holding back growth.
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Electricity prices on the futures market continue to rise, this surge is due to a combination of price increases in the natural gas, coal and CO2 markets. Low inventories, disruptions in gas flows and a drop in LNG deliveries propelled natural gas prices. The average weekly price of Brent decreased due to the proliferation of the Delta C19 variant and new measures imposed in Asia.
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