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MNI Commodity Weekly: JMMC Meeting Yields Expected Result but Saudi/Russia Flows Show Signs of Growth

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JMMC Meeting Yields Expected Result but Saudi/Russia Flows Show Signs of Growth: Saudi and Russia rolled over voluntary cuts earlier Wednesday but exports from both nations showed a rebound September, with Russia in particular looking in breach of committed levels if pace continues.

Oil Markets: Oil markets fall with focus on USD strength and major central bank policy as OPEC+ members maintain output cuts. Uncertainty surrounds the Russian fuel export ban with signs some diesel flows could resume soon.

Gas Markets: European natural gas prices eased back from last week’s peak of €45/MWh, weighed on by improved supplies from Norway and a mild start to the European heating season. US Natgas prices are trading just below last week’s peak of $3/mmbtu, also weighed on by mild temperature forecasts.


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MNI Commodity Weekly - JMMC Meeting Yields Expected Result but Saudi-Russia Flows Show Signs of Growth.pdf

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