Oil Weekly: Record European Gas Storage To Keep Nat Gas Prices Low
- By Viresh Kanabar
- 4 min read
Summary
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- European gas storage at 62% is at its highest level ever for May, excluding the Covid period. This reduces the risk of winter gas spikes.
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- Despite recent weak China growth data, trend oil demand remains high.
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- We continue to monitor the wildfires in Alberta for signs of escalation, increasing the risk to domestic oil production.
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