Market Insights

Market Information Monday 12 February 2024

Oil prices rose further on Friday, with West Texas Intermediate settling at $76.84, up 0.8%, and Brent crude reaching over $82 after a rise of over 0.5%, amidst continued concerns over the situation in the Middle East, leading to a weekly increase of more than 6%. The geopolitical tensions, highlighted by the rejection of a ceasefire by Israeli Prime Minister Netanyahu and the killing of a senior Hezbollah member in Baghdad by a U.S. drone strike, contribute to fears of a US-Iran conflict, yet commodity analysts see prices staying within a range due to alternating focus on demand worries and potential supply disruptions, despite OPEC’s efforts supporting oil prices.

German inflation declined to 2.9 percent year-on-year in January from 3.7 percent the previous month, confirming the preliminary figures released earlier, according to final data from the German Federal Statistical Office, Destatis. Despite the annual decrease, consumer prices saw a marginal monthly increase of 0.2 percent in January.

The Dutch industrial production continued to decline in December, though at a significantly slower rate with a 3.3 percent decrease year-on-year, compared to the sharper declines of 9.4 percent in November and 12.0 percent in October, as reported by Statistics Netherlands. Despite the ongoing twelve-month downward trend, there was a month-to-month increase of 6.8 percent in the final month of 2023.

The 6M Euribor decreased with 1 basis point to 3.89% compared to previous business day. The 10Y Swap increased with 2 basis points to 2.76% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.

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