Europe

Major U.S. LNG exporter Freeport may extend its plant shutdown until December

Bad news for Europe, good news for Americans. Recall, Freeport before the fire in summer provided about 20% of U.S. LNG supplies to the world market. Its largest customer is Europe.

Freeport had previously promised to resume operations in November. Even with the EU's gas storage facilities full, future deliveries are again delayed.

What's in store for Americans is the stability of the domestic energy market for the next month. Energy inflation will continue to have a minimal impact on aggregate CPI. Positive for the stock market and negative for natural gas futures.

ECB tries to save EU economy - central bank will be flexible in reinvesting PEPP program

The pandemic has left persistent vulnerabilities in the eurozone economy that contribute to the uneven normalization of our monetary policy among different countries, the ECB said. The ECB has instructed Eurosystem committees and ECB services to accelerate the development of a new mechanism to combat fragmentation. Why it matters. Rising

Price for oil price cap yet to be determined, head of European Commission

"The EU is ready in principle to go to the oil price cap," von der Leyen added. Earlier, the head of the U.S. Treasury Yellen said that the U.S. is not against the purchase of oil by India above the price cap. The WSJ also reported citing sources

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

India and China - Russia's most important trading partners - will not participate, Bloomberg sources said. The price cap plan is still alive after all. However, the price cap will be higher than previously thought. Earlier, U.S. Treasury Secretary Yellen said the price ceiling could be in the range

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