In today’s briefing:
- Energy Cable #51: Tensions Increasing Fast in the Red Sea
- Comment on Exchange Rate EUR/USD – December 15, 2023
Energy Cable #51: Tensions Increasing Fast in the Red Sea
- Happy New Year everybody and welcome to this year’s first edition of the Energy Cable.
- Crude oil prices started rallying into and over the Christmas holiday period with focus on the Houthis’ attacks on vessels in the Red Sea which prompted us to have a look at the numbers.
- The developments over the weekend have increased tensions, and we are eagerly awaiting the initial price action of the year to see how nervous the market is.
Comment on Exchange Rate EUR/USD – December 15, 2023
- During the period under consideration, i.e. November 15th to December 15th, 2023, the EUR/USD exchange rate fluctuated between 1,084 and 1,095 in the initial period until November 27th, 2023.
- After reaching 1,099 on November 28th, the exchange rate followed an immediate downtrend until the 11th of December (except for one session), although it remained higher than the levels seen at the beginning of November.
- Conversely on December 12th, the pair recorded an ascent, finally settling at 1.0894.
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