Market Insights
Market Information Tuesday 13 August 2024
Gas prices on the Amsterdam wholesale market continue to rise, primarily due to concerns over Ukrainian attacks in a Russian region with a key gas pipeline and tensions in the Middle East. This has also driven up electricity prices, with the German annual price exceeding €100 per MWh for the first time since June.
Oil extended its first weekly gain since early July, Brent rose above $80 a barrel after nearly a 4% increase last week, while West Texas Intermediate approached $78. Traders continue to monitor Iran’s response to the assassination of a Hamas leader in Tehran as well as the developments in Russia.
Gold rose ahead of US economic data expected this week, with a focus on whether the Federal Reserve might soon shift to monetary easing. Gold was trading around $2,440 an ounce after a 0.5% decline last week. The precious metal has gained over 18% this year and remains close to last month’s record high.
The 6M Euribor decreased with 5 basis points to 3.44% compared to previous business day. The 10Y Swap decreased with 1 basis point to 2.50% 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.