The fuel market

2010 was characterised by a recovery in the European prices of the main energy commodities, stronger in the crude oil and fuel markets than on the power exchanges. Said recovery mainly affected the last quarter of the year, December in particular, when the price of oil and its derivative products, coal and gas, reached their highest price since October 2008. These increases occurred against the backdrop of a fall in the $/€ exchange rate which, for the first time in the last five years, showed a different trend from that of the energy markets, with an annual average of 1.33 $/€ recorded (-4.9% compared to 2009) and reinforcing the downward trend which started in 2009. The Brent price stood at 79.5 $/bbl, up by 29% compared to the levels in the previous year.

Dated Brent price trend

Dated Brent price trend

Dated Brent price trend 1