European prices weakened
European gas prices weakened yesterday, pressured by rumors of an imminent US-German agreement on Nord Stream 2 and profit taking. The drop in parity prices…
Brent prompt month futures remained range-bound on early Monday, as newly implemented European travel restrictions were anticipated to reduce gasoline and jet demand in February. Furthermore, lower speculative demand on WTI contract is likely to have eased upward flat price pressure, as shown by the latest CTFC report. Finally, Saudi official selling prices are expected to dip lower, compared to the benchmark, as Asian demand looks increasingly uncertain.
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