Inflationary pressures are building. Monetary tightening approaches
The US job report for September was not as bad as the weak job creation might suggest, as we explained here on Friday. The acceleration of wages is obvious…
European gas prices were mixed yesterday: rather bearish on the spot on the back of the increase in pipeline supply and the drop in Asia JKM prices, slightly up on the far curve thanks to the rise in parity prices with coal for power generation (both EUA and coal prices were up).
On the pipeline supply side, Norwegian flows rebounded yesterday, averaging 280 mm cm/day, compared to 263 mm cm/day on Friday. As for Russian flows, they remained stable, at 332 mm cm/day on average.
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