Prices up as geopolitical tensions increase
European gas prices rebounded strongly yesterday, inflated by the rise in the risk premium on the Ukrainian crisis. Indeed, after President Putin recognized eastern Ukraine’s…
Brent 1st-nearby prices edged down yesterday, but they remain elevated, above $71/b. WTI prices are slightly below $69/b. Prices were dragged down by a strong dollar and the further sharp decline in US crude inventories was accompanied by a surge in product stocks. But in parallel, Saudi Arabia increased prices for its Asian consumers more than expected, a bullish signal for the market.
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