Prices continued to rise
European gas prices extended gains yesterday, still supported by concerns on weak supply and low stock levels. Russian flows were slightly up, averaging 297 mm…
ICE Brent prompt contracts declined by a dollar, as prompt month time spreads dropped by 15 cents. The rise in the Eurodollar exchange rate did not affect crude prices, as Gulf coast refineries were hit by adverse storms, with refineries in Port Arthur, TX and Baton Rouge experiencing unexpected outages. US petroleum inventories may have dipped, according to the API survey. Finally, Japanese refining runs continued to dip last week, currently at 2.15 mb/d.
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