Prices up on the spot and the curve
European spot gas prices rebounded yesterday. Despite the drop in residential demand due to the sharp rise in temperatures, weaker pipeline supply left gas balances…
ICE Brent prompt contract reached 64.43 $/b as US stocks showed draws in crude and distillate inventories, while gasoline built by 5 mb. Japanese crude oil stocks jumped by 6 mb last week, to reach 70 mb. The continuously weak runs and supportive crude oil imports are pushing Japanese inventories higher. The weakening of the dollar also helped dollar-denominated commodities.
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