European Commission President VON DER LEYEN said she spoke with Philippine President MARCOS and they have just concluded a free trade agreement.

The ECB said in its Economic Bulletin on Monday that recent gas-price spikes are likely to transmit to euro-area inflation faster than in the past, though growth in renewable generation lessens the pass-through to electricity costs. Supply constraints from a war in Iran and low European inventories raise further upside price risk; wholesale gas prices are more than 140% higher YoY. Market liberalization since the 2022 Russia-Ukraine shock — including more flexible pricing and shorter contract tenors — means retail gas prices will also respond faster. An ECB survey of euro-area national central banks found that in over half of countries wholesale gas moves now feed into gas inflation within 1–3 months, about 10% report 4–6 months, one-third report 7–12 months, and the share of countries reporting 13–24 month lags has fallen from roughly 40% to about 5% since 2022.

市場消息：韓國向立法者簡要介紹了核電站、得州發電廠和阿拉斯加液化天然氣項目，重點聚焦得州能源項目。