Global Macro: Japan Electricity +25%, Oil at $92, Debt Crisis Deepens
Japan faces a 25% surge in electricity prices on LNG/coal costs while its Debt-to-GDP hits 204.4%; Brent crude is making new highs at $92/bl raising inflation concerns; Goldman is bullish on copper, gold and US power as AI-driven scarcity plays.
What we know
An account on X reported Japan's electricity prices surging 25% as LNG and coal costs soar — a compounding problem given Japan's Debt-to-GDP at a world-leading 204.4%, per the Kobeissi Letter. On oil, another account on X flagged Brent forward contracts at $92/bl with a note that the inflationary pressure is currently being offset by a growth scare. Another account on X covered Goldman's four-chart bull case for copper, gold and PJM power as AI meets resource scarcity — a theme that dovetails with the SpaceX capex explosion seen in $SPCX earnings.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.