11/11/2026 – U.S. inflation above expectations, Fed heads for rate hike in December – Read more news
GAS & POWER: Persistent geopolitical tension between the United States and Iran and the renewed escalation of attacks in the Strait of Hormuz area are once again fueling gas prices, fueling fears of prolonged disruptions to energy flows. On 10 November, ADNOC reported damage to one of its own vessels in Emirati territorial waters, while UKMTO reported a further attack on an oil tanker off Oman. At the beginning, the quotes on the front-month product once again point to the 90 €/MWh area.
The latest seasonal forecasts from the Copernicus service confirm El Niño as one of the main climatic factors to monitor for next winter, with the peak of the phenomenon expected around the end of the year. For Europe, the models paint a picture characterised by below-average pressures and positive anomalies over the polar area. This would result in a potentially milder and rainier winter season than average over much of the continent, although the temperature signal is less pronounced and reliable in northeastern Europe.
The latest seasonal forecasts from the Copernicus service confirm El Niño as one of the main climatic factors to monitor for next winter, with the peak of the phenomenon expected around the end of the year. For Europe, the models paint a picture characterised by below-average pressures and positive anomalies over the polar area. This would result in a potentially milder and rainier winter season than average over much of the continent, although the temperature signal is less pronounced and reliable in northeastern Europe.
