Lagarde: The ECB is watching oil for inflation risks

<p>The European Central Bank is eyeing energy prices and fallout from the Israel-Hamas conflict, President Christine Lagarde told euro-area finance ministers, according to people familiar with the matter <a href="https://www.bloomberg.com/news/articles/2023-10-16/ecb-is-watching-oil-for-inflation-risks-lagarde-tells-ministers?utm_medium=social&amp;utm_source=twitter&amp;utm_content=middleeast&amp;utm_campaign=socialflow-organic&amp;embedded-checkout=true" target="_blank" rel="nofollow">cited by Bloomberg</a>.</p><p>WTI crude oil is down 72-cents today to $86.97.</p><p>It was around this time two years ago that Lagarde brushed off oil prices as an inflationary problem. Just days later, TTF began to soar and create a big problem for the ECB. Last week, TTF rose to $56 from a low of $36 but it's down to $48 today, off by about 3%. That price is about 65% below where it was in Oct 2023 and half of where it was in Oct 2022.</p>

This article was written by Adam Button at www.forexlive.com.