Prices rebounded
European gas prices rebounded yesterday, supported by new weather forecasts pointing to colder temperatures and ongoing weak LNG and pipeline supply. Russian flows were almost…
ICE Brent crude prompt future dipped to 67.7 $/b after a reaching 71$ yesterday following the Houthis attack on Ras Tanura terminal. With no material impact on the Saudi oil infrastructure, the rally was poised to be short-lived. Yet, this could be a new hindrance to the normalization of the US-Iran relationship. The current softness in prices was likely caused by a strengthening dollar, pushing dollar-denominated commodities down. Yet despite the last two month of dollar weakness, preliminary trade data from China shows signs of modest growth, far from a super-cycle type of growth.
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