And now the French nuclear crisis
The European energy crunch entered a new phase on Thursday with an extreme spike in French power prices mirroring similar moves observed in Japan or Texas…
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The rebound in air traffic on both sides of the Atlantic is fueling optimism, although it remains some 35% below 2919 levels in Europe and road traffic appears to be declining due to increasing restrictions imposed to cope with the rapid spread of the virus on the continent.
Russia is ready to introduce a ban on gasoline exports as soon as next week to limit the rise in domestic prices. Such a measure had already been discussed in April without being implemented. Russia exported 5.83mt of gasoline last year according to Bloomberg calculation.