Slight price drop
European gas prices weakened overall on Friday, pressured by milder weather and steady pipeline flows. Norwegian flows were up on Friday, averaging 344 mm cm/day,…
ICE Brent futures contracts remained broadly stable, at 63 $/b, after regaining from Monday’s price slump. The talks to revive the Iranian nuclear deal were constructive according to attendants. The sanctions liftoff could bring extra supply to a market struggling to clear at the prompt. in the short term, crude prices were supported by a constructive inventory report from the API, while refined product stocks were likely to be on the rise in the US. Japanese crude oil stocks remained constant, as refining runs in the country stayed at sustained low levels, likely caused by competing imports.
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