All against inflation!
The statements of the central bankers meeting in Sintra, from the ECB or the Fed, are unambiguous: the priority is the fight against inflation. They are…
European gas prices crashed yesterday, both on the spot and the curve, extending their previous session’s sharp losses.
The market ignored the drop in Norwegian flows, which averaged 269 mm cm/day, compared to 286 mm cm/day on Tuesday, due to unplanned outages. Russian flows were stable, at 331 mm cm/day on average.
It took direction from the news that the US administration would not impose sanctions against the developer of the Nord Stream 2 pipeline. The drop in parity prices with coal for power generation (both EUA and coal prices were down) provided additional downward pressure.
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