Mixed price evolution amid bearish spot fundamentals and concerns ahead
European gas prices were mixed yesterday. They dropped on the spot and the two front months, pressured by moderate demand, ongoing strong LNG sendouts and…
Crude prices rallied by 5% as OPEC decided to roll over the current production agreement, while Saudi Arabia extended its voluntary cut for another month. The radical change in the group’s strategy, now aiming at price appreciation instead of volumes, is predicated on the assumption that US producers will not enter the market in 2021.
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