Germany triggers the second stage of its national gas emergency plan
Risks of energy shortages came back to the fore on Thursday after Germany triggered the second step of its emergency gas plan with the German…
ICE Brent prompt contract declined to 74.5 $/b at the prompt, in a volatile start of the week. Russian output in June averaged 10.42 mb/d vs 10.45 mb/d in May, questioning the ability of Russia to effectively ramp up crude production. Despite the drop in crude prices, European diesel cracks felt even stronger, at 4.8 $/b at the prompt, as the Delta variant triggered new restrictions in European capitals such as Lisbon.
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