August inflation data in the US came in slightly below expectations, but headline and core inflation remain strong at +5.3% and +4% yoy respectively. In detail, it is not so clear that a downward turn is really underway and the reaction of the markets (equities and bond yields down, USD finally slightly up) seems to show…
Crude oil prices climbed higher to 74 $/b for ICE Brent front-month contract ahead of the Nicolas weather event, reclassified as a hurricane in the last hours, ahead of its landfall. Large refineries in the Houston area announced that they would maintain normal operations. The impact of such a hurricane will likely reduce crude throughputs and run…
The power spot prices continued to rise in northwestern Europe yesterday, buoyed by higher gas prices and forecasts of stronger power consumption and weak wind generation. The day-ahead prices averaged 145.90€/MWh in Germany, France, Belgium and the Netherlands, +4.17€/MWh day-on-day. The EUAs sharply rebounded from Friday’s fall on Monday morning, driven up by another surge…
European gas prices continued their (seemingly endlessly) rise yesterday, still supported by concerns on the start date of the Nord Stream 2 gas pipeline. Indeed, the German energy regulator said yesterday that the application by Nord Stream 2 AG for approval as an independent transmission system operator is now complete, and added that it has…
With one week to go before the next Fed meeting, the August inflation figures for the US are of particular importance. A very slight drop is expected, but the inflation rate could be above 5% for the 4th month in a row, while core inflation has been above 4% for the last two months. Energy prices remain…
