Five key elements to understand the current rally in European energy prices
Five key elements to understand the current rally in European energy prices European energy prices are ending 2021 with another bullish rally: TTF Jan-22 prices…
Brent prompt future contract corrected lower, at 63 $/b, as demand-side worries emerged. The US dollar continued strengthening also lowered crude prices. Finally, the anticipation of an OPEC supply hike appears increasingly certain, potentially pushing crude oil in a market with limited refining demand thanks to the slow recovery of Texan refineries and slowing demand in Asia due to turnaround season.
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