Commerzbank’s Norman Liebke highlights that Oil and European natural gas are reacting differently to Middle East supply risks, with Brent supported by rerouted flows while gas remains constrained by lost LNG from Qatar and US cargoes diverted to Asia. He notes China’s upcoming industrial production data will be key for assessing refinery runs and crude processing trends.
Middle East tensions and China data
“Oil and gas prices rose again this week. The price of Brent crude rose by 6.5%, and the European gas price by just under 9%. The situation in the Middle East remains the key driver for energy prices, and even though an agreement between…
Read the full article at FXSTREET.COM
