Eurozone, markets, trade, and monetary policy
The European Parliament has begun a critical debate over whether Brussels should consolidate its purchasing power for essential medicines or allow Member States to continue negotiating independently with major pharmaceutical suppliers, a decision that could reshape how 450 million Europeans access vital treatments. Karin Karlsbro, the lead negotiator for the centrist Renew Europe group, opened…
European Union gas storage levels stood at 36% on 13 May 2026, the lowest mid-injection-season reading since 2018, as the closure of the Strait of Hormuz tightens LNG supply. The Commission has formally relaxed the mandatory November filling target from 90% to 80% for the 2026 winter season.
The European Parliament has finalised its position on the long-anticipated steel safeguards reform, setting a tariff-free import quota of 18.3 million tonnes per year and a 50% duty on volumes above that threshold. The regulation is due to enter into force on 1 July 2026.
EU trade ministers meet in the Foreign Affairs Council (Trade) configuration this week to review economic security, the impact of the Middle East conflict on trade flows, and the follow-up to the 14th WTO Ministerial Conference held in Yaoundé from 26 to 30 March 2026.
Cybersec Europe 2026 opens in Brussels today as MEPs in Strasbourg debate EU cyber resilience in the face of advanced AI systems including Mythos. The Commission’s Tech Sovereignty package – Cloud and AI Development Act and Chips Act 2 – is expected on 27 May.
The European Commission presents its Fertilisers Action Plan during the May plenary in Strasbourg, addressing the dependency of EU agriculture on imported nitrogen, persistently elevated prices since the 2022 energy crisis, and the need to anchor strategic production capacity in the Union.
European equity markets traded firmer on Monday 18 May 2026 as the CAC 40 reclaimed lost ground and the FTSE 100 reasserted technical control, while oil prices kept swinging on Strait of Hormuz tension. The ECB countdown to the 4-5 June decision is now fully on.
Anglo American announced on Monday 18 May 2026 the sale of its Australian steelmaking coal portfolio to UK-registered Dhilmar Ltd for up to US$3.875 billion in cash, completing its exit from coking coal ahead of its merger with Teck Resources.
The European Central Bank held its deposit rate at 2% for a third consecutive meeting on 30 April, but a Bloomberg survey of economists now sees two summer rate hikes as the Iran war drives eurozone headline inflation toward a projected 2.6% in 2026.
The European Parliament prepares to vote on the EU’s toughest steel trade defence in eight years: a 50% out-of-quota duty, a 47% cut in tariff-free import volumes and a Melt and Pour traceability requirement, set to enter force on 1 July 2026.
