Rising pipeline flows from Russia drag EU gas prices further down
A 40 mm cm/day increase in Russian gas flows to Europe through Ukraine and Nordstream 1 pushed European gas prices further down on Tuesday, eroding again…
Brent prompt future contract came back to 63.5 $/b on early Tuesday, as Texas’ cold snap affected the US petroleum markets in unpredictable ways. WTI-Brent spreads collapsed, likely caused by lower US refining runs, pushing crude stocks higher in the short term. The two fields Troll and Johan Sverdrup in Norway were expected to shut down if workers declared a strike. A settlement was found before the strike could begin.
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