Prices up on the spot, down on the far curve
European spot gas prices rebounded on Friday, supported by higher residential demand and weak pipeline supply. Indeed, Norwegian flows weakened again, averaging 263 mm cm/day,…
Brent prompt prices are above $70/b ahead of the OPEC+ meeting (see the Daily Oil), which pushes inflation expectations and bond yields higher. Gold prices are on the rise too. The equity market resists well, as in parallel, activity is strongly recovering in the US, Europe and China. The euro posted gains vs the USD yesterday after higher inflation figures in the main countries of the euro area for which data will be released today. The EUR/USD exchange rate is back above 1.22.
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