European gas prices drift lower… but the downside potential looks limited so far
Globally mild and windy weather prospects for the coming two weeks as well as comfortable LNG supply continued to weigh on European gas prices on…
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Last week’s crude oil price decline was likely caused by a broad selloff in Brent and WTI futures, as total open interest declined significantly. Looking at ICE Brent futures positioning, every category (managed- money, merchant players, swap dealers) reduced their exposure, as volatility was expected to rise, amid an uncertain OPEC+ production policy.