European gas prices maintained their bearish momentum yesterday. Indeed, the movements in Asia JKM prices (+1.42% on the spot, to €81.051/MWh; -0.43% for the February 2022 contract, to €98.410/MWh; -10.30% for the March 2022 contract, to €68.977/MWh) suggest that, while there is still some spot tension in the Asian market, this situation is not expected…
As expected, the US inflation rate reached 7% in December. The core inflation rate accelerated slightly more than expected to 5.5%. Whatever the measures of underlying inflation (they have multiplied in recent months in order to isolate the impact of the health crisis), the observation is always the same: structural forces are at work and the inflationary phenomenon…
ICE Brent prompt price hiked to 84 $/b for March delivery, as Libyan exports at one of the biggest ports were halted due to a combination of bad weather and lack of storage infrastructure at the facility. Still, the whole complex was lifted yesterday, with diesel prices rallying more than crude prices, putting ICE Gasoil…
European gas prices weakened again yesterday, still under pressure from the (slight) improvement in storage levels and weaker Asia JKM prices (-6.75% on the spot, to €79.920/MWh; -1.40% for the February 2022 contract, to €98.831/MWh; -8.71% for the March 2022 contract, to €76.897/MWh). On the pipeline supply side, Norwegian flows were stable yesterday, at 341…
Sometimes markets are fascinating (or despairing?). It was enough for the Fed Chairman to be reassuring about 1) the Fed’s desire to curb inflation and 2) its ability to do so without breaking growth (i.e. by raising rates to a minimum) for the equity market to rebound and for long rates to ease somewhat (the…
