Europe 'Not Well Prepared for Winter' on Energy, Goldman's Della Vigna Says
Context
European natural gas prices rose following a report the White House asked the Pentagon to develop strike options against Iran that could be executed before the midterm elections next month. Michele Della Vigna, Head of Natural Resources Research in EMEA at Goldman Sachs, says Europe is not well prepared for winter in the energy market with risks skewed to the upside. "In Europe, natural gas drives 60% of the price of power for 60% of the time. And in some countries, the UK, Italy, Germany, for 80% plus of the time. So all of this ultimately feeds through industrial competitiveness and the consumer's disposable income," he said. Della Vigna discusses the energy market impacts and risks from conflicts in the Middle East on "The Pulse with Francine Lacqua." (Source: Bloomberg)
What it means
Causal chain
No clear market signal
How to read a signal
- Severity
- the event's market impact, 1–5
- Direction
- ↑ / ↓ likely price move for the asset
- Exp. move
- the size of the abnormal move we'd expect if the call plays out — not a claim a move will happen:Most flagged events don't move beyond noise; those count against us (see the track record).Ssmall<1%Mmoderate1–5%Llarge>5%
- Timeframe
- the window we measure over:1dshort5dmedium21dlong
- Conviction
- how well-established the directional call is (textbook → speculative) — not a guaranteed outcome:lowaveragestrong
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Sign up free →Not investment advice · for informational purposes only. Generated 8 Oct, 12:13 UTC