Prices weakened at the close, but the uptrend is ongoing
European gas prices weakened overall at the close on Friday. They started the session sharply higher, supported by the drop in Russian supply (to 263…
ICE Brent prompt contract declined to 65.3 $/b, on early Monday, as Indian demand continued to be the key downside risk, as mobility data continued to show larger oil demand destruction ahead. March’s European refining data was revised down, as refining throughput was recorded at 8.2 mb/d. European margins eased, as gasoline cracks were likely reduced due to an increasingly saturated US market.
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