The sanction bundle features a transaction ban on Nord Stream 1 & 2, ING’s commodity consultants Ewa Manthey and Warren Patterson be aware.
Power markets stir as flows halt, rigs drop, and bets rise
“This may successfully forestall a restart of pure gasoline flows by means of Nord Stream 1. It additionally ensures that flows by means of Nord Stream 2, which has by no means been commercially operational, don’t begin.”
“Regardless of oil costs having been extra steady in current weeks, the US oil rig depend continues to fall. In line with Baker Hughes information, the variety of energetic oil rigs within the US fell by two over the past week, leaving the whole variety of oil rigs at 422. That is the twelfth consecutive week of declines, taking the cumulative decline to 53 over this era.”
“The most recent positioning information reveals that speculators elevated their web lengthy in ICE Brent by 16,398 heaps to 238,745 heaps as of final Tuesday. The rise was predominantly pushed by recent shopping for. In the meantime, speculators proceed to construct their web lengthy in ICE gasoil, amid a tightening within the center distillates market. Speculators purchased 6,384 heaps to go away them with a web lengthy of 90,168 heaps, the biggest place since July 2024.”
