Good Morning from Germany, where gasoline prices have climbed to their highest level since Oct.
On avg, a liter of Euro95 now costs €1.91, +8% YTD.
- One reason is weak Euro.
- In 2024, the Euro has depreciated by 3.6% vs Dollar.
- Oil has become 22% more expensive in Euros this year.
Europe's main energy stocks index hits highest since 2008
April 12 (Reuters) - The main European energy stocks index hit its highest level since 2008 as higher oil prices, geopolitical risks, and global economic uncertainty drew in investors on Friday. . .
Oil prices rose 2% on Friday as tensions in the Middle East raised the risk of supply disruptions from the oil-producing region.
Energy was the second best-performing sector in the pan-European STOXX 600 index on the day and has risen 10% so far this year, compared with gains of around 5.6% for the main index year-to-date. "Energy's outperformance over the past three months is well explained by the rise in the oil price seen over the same period," Bruckner said.Global oil major BP was among the top gainers, climbing more than 3.8% on Friday after Reuters reported that UAE's state-owned oil company recently considered buying BP but that the deliberations did not progress beyond preliminary discussions. . .
Charles Hall, head of research at brokerage Peel Hunt, attributed the gains to greater turbulence in the global economy.
"Compared to two months ago, you've got oil prices higher and you've got a whole load of macro things, and you've got the potential of a black swan event."
The Bottom Line
A black swan event is a consequential occurrence that is almost impossible to predict, yet after the fact seems to have been inevitable. Such events can prove highly disruptive to the stock market, where investors spend millions trying to predict unpredictable events.
The Bottom Line
A black swan event is a consequential occurrence that is almost impossible to predict, yet after the fact seems to have been inevitable. Such events can prove highly disruptive to the stock market, where investors spend millions trying to predict unpredictable events.
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