Other news

According to Reuters calculations and data provided by Gazprom, the volumes of gas exported via pipeline from Russia to Europe have decreased sharply in the current year.

As some analysts and investors expect in 2023, gold prices will rise again.

Since the EU imposed oil sanctions on Russian oil shipments by sea, their volume has decreased by 22%. Thus, the indicator fell to 2.5 barrels per day, based on the data from Kpler.

On Wednesday, API informed that the crude oil reserves in the US were reducing for the second week. This happens amid the common concern of the demand’s prospects on the backdrop of a sharp increase of coronavirus cases in China.

Oil prices continue to show a negative growth, driven by Covid-19 outbreaks in China. Such a complex infectious situation in the country has a negative impact on fuel demand recovery.

On Wednesday, natural gas futures in the United States fell to the lowest value in the last 9 months. This is due to softening of weather forecasts for the next few weeks, which could reduce heating demand. The futures contract fell by 23% last week.

It is reported that Exxon Mobil Corp. is attempting to block the introduction of a new windfall tax against the oil industry. The company is suing the European Union.

Crude oil and petroleum products reserves, natural gas reserves, as well as gasoline and distillate production are on the agenda.

According to S&P Global Commodity Insights, US LNG terminals will stay near maximum capacity amid high volatility in LNG markets next year. Henry Hub prices are expected to settle lower as liquefaction capacity will not boost.

Head of economic and policy research at JPMorgan Bruce Kasman wrote that the slowing GDP growth alleviates the problems with supplies and eases the price shock for commodities.