The Fed’s latest communication is helping restore its inflation fighting credibility. Last week, the Federal Reserve raised rates by 25 basis points, in line with expectations. The tone was hawkish, with Chair Warsh stressing that policy remains insufficiently restrictive. The updated dot plot pointed to one further hike this year, while projections for both growth […]

Last week, the Houthis’ military campaign expanded to the Bab el-Mandeb Strait, adding further risks to global trade and oil exports. Oil and gas prices reached new recent highs, with crude rising above $100 per barrel and gas moving above €80/MWh. With fires erupting along the East-to-West pipeline, Saudi Arabia’s oil exports are coming under […]

Europe has never entered September with this little gas in store. The EU Storage Regulation establishes a 90% target for gas storage filling across the Union to be achieved between 1st October and 1st December. Deviations of up to 10 percentage points are allowed, with an extra 5 points flexibility in case of “unfavorable market […]