Sharp price drop
European gas prices dropped significantly yesterday, both on the spot and the curve. Spot fundamentals were almost unchanged. Significantly below-normal temperatures continued to maintain residential…
Brent futures prices edged higher at 56.3 $/b for the front-month contract, as the API survey reported a sizable draw in crude oil inventories. At the same time, Chinese official statistics on daily coronavirus cases trended lower, at 75. Japanese refinery utilization rates rose back to 80% this week, underlying the heating demand in the archipelago.
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