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ECB's Schnabel Warns Core Inflation Remains Resilient on July 6, Natural Gas 40% Above Pre-War Levels

Commodities Forex

2026-07-06 18:16:16

NG0.25%

According to Yonhap Infomax, Isabel Schnabel, ECB Executive Board member, warned on July 6 that eurozone core inflation remains resilient despite recent headline inflation cooling. Speaking at the European System of Central Banks research network conference in Rome, Schnabel expressed concern that energy momentum remains strong. She noted natural gas prices are still approximately 40% above pre-war levels, emphasizing that recent oil price declines do not signal a return to pre-conflict conditions. Schnabel cautioned that market expectations for higher sustained oil prices reflect ongoing geopolitical tensions.

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