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1.15164
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Gold
4060.26
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157.457
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Real-time News
Ukrainian Prime Minister Sviridenko met with U.S. General Driscoll.On November 20th, Trading Hub Europe (THE), Germanys gas market coordinating body, announced on Thursday that it will eliminate the surcharge previously added to gas prices to ensure minimum storage requirements starting in January next year, in line with legislation passed earlier this year. THE stated that the elimination of this surcharge depends on amendments to the energy law that will take effect at that time. Currently, the surcharge is €2.89 per megawatt-hour. The German Federal Parliament passed a bill on November 6th stipulating that the cost of the surcharge incurred up to the end of 2025 (up to €3.4 billion, approximately $3.9 billion) will be borne by the Climate and Transition Fund. This surcharge was imposed after the outbreak of the Russia-Ukraine conflict in 2022 to help cover the costs of replacing Russian pipeline gas with more expensive sources and transportation methods, such as seaborne liquefied natural gas.India’s electricity generation fell 7.6% year-on-year in October, while key industrial output remained flat year-on-year.UBS Global Wealth Management: Looking ahead to 2026, it forecasts US GDP growth of 1.7%.On November 20th, the German central bank stated in its monthly report released Thursday that the German economy is likely to experience moderate growth in the final quarter of this year, primarily driven by expansion in the service sector, while its weak industrial sector is stabilizing. The German economy, Europes largest, experienced zero growth in the last quarter, having stagnated for most of the past three years. Industry suffered a deep recession, while households relied on savings to rebuild wealth damaged by rapid inflation. Furthermore, the German central bank noted that industry has lost significant competitiveness due to high costs and can only benefit to a limited extent from the global economic recovery; US tariffs could also put pressure on demand.
