Steep US inventory draws, amid falling prices
ICE Brent prompt contract collapsed further yesterday, at 73.2 $/b for the September contract. The move was likely caused by two drivers: A broad selloff in…
European gas prices extended gains yesterday, still supported by the drop in temperatures. On the pipeline supply side, Norwegian flows were stable yesterday, at 329 mm cm/day on average. Russian flows were slightly lower, averaging 318 mm cm/day, compared to 320 mm cm/day on Wednesday.
The rise in oil and Asia JKM prices provided additional upward pressure, particularly for curve prices.
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