The global energy volatility machine rolled on yesterday. In China, the NDRC surprised the market and me by removing the jackboot:
Traders took cue from a meeting earlier on Wednesday as the country’s top economic planner, the National Development and Reform Commission, told miners and power plants at a web-based conference that prices should not fall too much too fast, several traders with knowledge of the meeting told Reuters.
The planner stressed that prices in the long-run shall remain at a “reasonable” level.
