Sharp drop in European prices
European gas prices dropped significantly yesterday, both on the spot and the curve. With spot fundamentals almost unchanged, the bearish movement seems to have been…
Join EnergyScan
Get more analysis and data with our Premium subscription
Ask for a free trial here
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.