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Chartbook: Europe gas prices and storageMAXIMUM STORAGEInventories in the European Union and the United Kingdom (EU28) have climbed to 1,029 terawatt-hours (TWh), according to data from Gas Infrastructure Europe. Stocks are +110 TWh (+12% or +1.0 standard deviations) above the seasonal average for the previous ten years ("Aggregated gas storage inventory", GIE, Oct. 13). STILL NOT ENOUGHThe combination of falling nearby prices with firming prices later in the winter and the rest of 2023 highlights the limitations of Europe's storage system. In that case, the market will still need much higher prices or some form of physical rationing to conserve stocks later in the winter. Europe fills gas storage ahead of schedule (Reuters, Oct. 4)- Europe tops up gas stocks, but winter demand cuts essential (Reuters, Sept. 7)- EU prepares public opinion for winter gas siege (Reuters, July 27)- Europe forced to pay even higher prices to fill gas storage (Reuters, July 5)- Europe fills gas storage at record rate as Asia's buyers step aside (Reuters, May 17)- Europe makes rapid start on refilling gas storage (Reuters, May 4)John Kemp is a Reuters market analyst.

Indonesian nickel production by mine and productPOWERING UPIndonesia's nickel boom reflects both the country's rich mineral resources and the government's drive to push miners down the value-add processing chain. China's imports of nickel by product 2020-2022PRICING DOWNThis Indonesian supply surge was widely expected, but its exact timing was fuzzy given the number of new processing routes being used to convert ore to battery nickel. The combination of European demand shock, Indonesian production burst and the closing of the processing gap between stainless and battery nickel means there "is close to 30% downside for the nickel price into year-end". This mismatch of market-place and market is one of the reasons the LME nickel contract melted down in March. Macquarie Bank now provides three different nickel price forecasts for LME refined metal, Chinese nickel pig iron and Chinese nickel sulphate.

Oil prices climbed past $100 a barrel after Russia, the world's largest exporter of crude and fuels, invaded Ukraine in February. But prices have come off their peaks by nearly 40% amid fears that an economic slowdown would weaken demand. That's the elephant in the room," Fereidun Fesharaki, founder and chairman of energy consultancy FGE, told Reuters on the sidelines of the conference, as bans on Russian oil loom. But when we get to Dec. 5, if Russian oil gets shut in, prices will be $120 or more." Such a move would add to global supplies and depress fuel prices but could support China's crude demand.

☆ Wisdom from a crypto billionaire, plus a risk-free bitcoin trade that could pay double-digit returns
▼ + stars: | 2021-04-18 | by ( Business Insider | ) www.businessinsider.com time to read: +2 min

Welcome to this weekly roundup of Investing stories from deputy editor Joe Ciolli. Stephen Lam/Getty ImagesHello and welcome to Insider Investing. I'm Joe Ciolli, and I'm here to guide you through what's been happening in markets. Here's what's on the docket:If you aren't yet a subscriber to Insider Investing, you can sign up here. On a recent podcast, he discussed a strategy that secured 10% daily returns on million-dollar trades.

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