In today’s briefing:
- CrossASEAN Ground Zero – Grab’s ESG Credentials, Vinfast in Indonesia, Digital Payments, and Evermos
- Energy Cable: The oil market is OVERLY pessimistic by now..
- Great Game – Can the European Right leverage their victory?
- [ETP 23/2024] Jittery Crude And Fiery Natural Gas Markets Defined Energy Markets Last Week
- UK: Labour Market Rates Peaking
CrossASEAN Ground Zero – Grab’s ESG Credentials, Vinfast in Indonesia, Digital Payments, and Evermos
- This week we look at Grab’s ESG qualities and its recent report along with Vingroup’s plans to start EV ride-hailing in Indonesia on top of Vinfast‘s commitment to manufacturing.
- We also look at how the digital payments space is developing in Indonesia and Vietnam with Momo and Evermos’s differentiated social commerce strategy in Indonesia helping to foster entrepreneurialism.
- CrossASEAN Ground Zero is a thematic weekly product that focuses on key Southeast Asian themes and technology trends with a core focus on Indonesia.
Energy Cable: The oil market is OVERLY pessimistic by now..
- Take aways: Alignment in OPEC is crumbling but the short-term risk-reward is
- STRONG Riyadh Accord coming to the rescue? Natural Gas markets remain tight and the bullish price action CONTINUE.
- Another week of increasing freight rates OPEC’s cohesion is becoming increasingly fragile due to the necessity for deep supply cuts to sustain oil prices.
Great Game – Can the European Right leverage their victory?
- Welcome to this weeks Great Game, which is obviously very much focused on the European elections.
- We also cover the ongoing EV war and the massive heatwave in India, which could have huge ramifications for certain commodities.
- Right-Wing Swing in European Parliament Elections.
[ETP 23/2024] Jittery Crude And Fiery Natural Gas Markets Defined Energy Markets Last Week
- Crude oil prices crater as OPEC meeting outcome fails to support oil prices. Despite OPEC+ extending larger cuts until end-2025, prices fell on fears of excess supply.
- Henry Hub Gas prices rose sharply last week driven by expectations of a hotter-than-expected summer in the US & Outages in Norway.
- Energy majors fell sharply on 3/June and ended the week in the red. BP and Exxon Mobile were downgraded. Berkshire ramped up holdings in Occidental.
UK: Labour Market Rates Peaking
- The UK unemployment rate increased to 4.4% in April amid residual seasonality nearing its peak. Underlying changes are also shrinking so it may not go significantly higher.
- Stabilisation in vacancies and still-low redundancies should prevent a new fundamental shock from depressing labour market activity.
- Total pay growth exceeded expectations again, albeit owing to revisions that skew higher. The slowing to 0.4% m-o-m may also be revised up, but suggests slowing in May.
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