Back to “normal” levels?
European gas prices dropped significantly yesterday. There does not seem to be a single specific reason to explain this drop but a set of factors:…
Crude prices continued to be lifted by a declining US dollar, while the Libyan national oil company declared force majeure on its Hariga port due to budget disputes with the country’s central bank. Backwardation levels on the Brent curve are now at healthy levels to incentivize stock draws.
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