Energy is Back on the Global Market Agenda

The energy crisis, which suppresses risk appetite in global markets, continues to affect pricing on a new day. While market actors closely monitored Europe's energy preparations for the winter, two major European economies announced that they have decided to cooperate to combat the energy crisis. In this cooperation, France will send gas to Germany and Germany will supply electricity to France. Germany will keep its two nuclear power plants on standby as emergency reserves.

Europe's benchmark gas futures closed 15 percent higher after rising 35 percent during the day. The benchmark coal price also rose 7.6 percent to a record high of $345 a ton, three times its price a year ago. European stock indexes ended the day with losses of up to 2 percent, while the euro hit a 20-year low against the dollar. After Liz Truss was announced as the new prime minister of the UK, sterling / dollar, which completed the day horizontally at 1.1517, rose 0.4 percent to 1.1562 this morning with the effect of the news that energy bills will be capped. On the other hand, Bank of England Monetary Policy Committee Member Catherine Mann called for "strong action" to rein in inflation. The Bloomberg Dollar Index, which closed at 1.305, up 0.17 percent on Monday, is also slightly down this morning. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!