Prices weakened again on the spot and the near curve
European gas spot and near curve prices weakened again yesterday, pressured by the drop in Asia JKM prices (-3.30% on the spot, to €78.098/MWh, -1.69%…
ICE Brent prices approached 75 $/b yesterday after the EIA weekly data release showed further scarcity in the US crude market. Later in the day, crude prices pulled back by the more hawkish than expected Fed meeting which anticipated 2 rate hikes in 2023. Physical markets are increasingly reflecting a tightening balance, as Asian and Mediterranean grades are all rallying.
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