The markets, which had welcomed the Fed’s 75bp rate hike, finally revised their judgement significantly afterwards. Concerns about growth took over, leading to a sharp drop in equity markets (-4% for the Nasdaq, -3.25% for the S&P 500, -3% for the Euro Stoxx 50) and a sharp decline in long-term rates as well, but after very sharp…
The EnergyScan team held its quarterly webinar covering key trends and events on energy markets. In this webinar, our experts addressed the following topics, with a Q&A session at the end of each topic: Macro & Oil– Breaking the inflationary spiral without stopping growth: quite a challenge.– What’s next for crude markets after the EU…
European gas prices maintained their bullish trend yesterday, supported by the prospect of an additional drop in Russian flows. Indeed, Gazprom said yesterday it had halted operations at one of three operational compressor units at the Portovaya compressor station due to maintenance issues. This should remove a further 33 mm cm/day of Russian exports from…
Yesterday, oil prices closed in red territories: ICE Brent front month closed at $118.51/b, making a 2.2% loss while NYMEX WTI for July delivery went 3.0% down to settle at $115.31/b. The US Fed decision to hike rate by 75bp (see this news) fueled fear for economic growth and thus oil consumption, dragging prices lower. However,…
The Fed predictably raised its key rate by 75bp and warned that it could raise it again on a scale not seen since 1994 in July, but that it believed such action should be exceptional. Its growth and inflation forecasts were revised downwards and upwards respectively, but not excessively so, and the rate forecasts of…
