Arabica coffee futures on ICE traded near their highest in almost 10 years on Friday in response to tightening supplies in leading producers and worries about adverse weather. March arabica coffee KCc2 rose 3.7% to $2.3755 per pound. "Coffee prices have (reached) new multi-year highs on the back of poor supply outlooks in Brazil and Colombia.
#GrandSolarMinimum
https://www.nasdaq.com/articles/softs-arabica-coffee-hits-near-10-year-peak-as-supplies-dwindle
#GrandSolarMinimum
https://www.nasdaq.com/articles/softs-arabica-coffee-hits-near-10-year-peak-as-supplies-dwindle
Nasdaq
SOFTS-Arabica coffee hits near 10-year peak as supplies dwindle
Arabica coffee futures on ICE traded near their highest in almost 10 years on Friday in response to tightening supplies in leading producers and worries about adverse weather.
German Power Prices Soar As Arctic Blast To Bring "Significant Snow"
Europe's first cold spell of the heating season has arrived, pressuring power prices higher as freezing temperatures ushers in increased power demand to heat building structures across the central-west region.
German day-ahead power prices jumped to the second-highest level ever, 273.89 euros per megawatt-hour. Day-ahead power prices are also higher in France and Netherlands.
Weather models for Germany show between Nov. 24 - Dec. 4. -- the average temperature will hover well below the 30-year norm or around 30-35 degrees. Low temps will dip into the mid 20 degrees Fahrenheit.
The cold snap will test Germany and the other parts of Europe's energy systems already under stress due to the lowest natural gas stockpiles since 2013. There appears to be no relief in dwindling gas flows into the continent as German energy regulators decided to suspend the Nord Stream 2 pipeline certification process last week. With every hiccup the Russian to German pipeline faces, natural gas prices increase, forcing power prices higher. There's also the issue that more power generation has to be diverted from alternative energy sources to fossil fuels due to unreliability:
"Wind generation and temperatures below the seasonal norm are increasing gas-for-power and heating demand; this provides bullish pressure to day-ahead contract," Inspired Energy said in a report.
Europe is staring into a perfect storm of forces that could spark a winter of discontent and continue socio-economic chaos on the continent. EU politicians won't publicly say, but they need Putin's gas to avert an energy crisis this coming winter that could sweep many politicians out of power due to uncontrollable energy inflation.
#GrandSolarMinimum #EnergyCrisis
https://www.zerohedge.com/weather/german-power-prices-soar-arctic-blast-brings-snow
Europe's first cold spell of the heating season has arrived, pressuring power prices higher as freezing temperatures ushers in increased power demand to heat building structures across the central-west region.
German day-ahead power prices jumped to the second-highest level ever, 273.89 euros per megawatt-hour. Day-ahead power prices are also higher in France and Netherlands.
Weather models for Germany show between Nov. 24 - Dec. 4. -- the average temperature will hover well below the 30-year norm or around 30-35 degrees. Low temps will dip into the mid 20 degrees Fahrenheit.
The cold snap will test Germany and the other parts of Europe's energy systems already under stress due to the lowest natural gas stockpiles since 2013. There appears to be no relief in dwindling gas flows into the continent as German energy regulators decided to suspend the Nord Stream 2 pipeline certification process last week. With every hiccup the Russian to German pipeline faces, natural gas prices increase, forcing power prices higher. There's also the issue that more power generation has to be diverted from alternative energy sources to fossil fuels due to unreliability:
"Wind generation and temperatures below the seasonal norm are increasing gas-for-power and heating demand; this provides bullish pressure to day-ahead contract," Inspired Energy said in a report.
Europe is staring into a perfect storm of forces that could spark a winter of discontent and continue socio-economic chaos on the continent. EU politicians won't publicly say, but they need Putin's gas to avert an energy crisis this coming winter that could sweep many politicians out of power due to uncontrollable energy inflation.
#GrandSolarMinimum #EnergyCrisis
https://www.zerohedge.com/weather/german-power-prices-soar-arctic-blast-brings-snow
Zerohedge
Zerohedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero