Energy Prices (Daily Change)
All prices updated at end of day using CME settlements.
Yesterday’s rally unfolded as markets are in more of a sell-the-rally mode than buy-the-dip.
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Oil prices rallied over 4% as the dollar weakened on the heels of BOE efforts to shore up the pound.
It remains to be seen if this rally can stick considering macro headwinds.
But exports surged by 1,408 billion cubic feet largely as a result of the commissioning of large new liquefaction terminals.
The massive increase in LNG exports has significantly tightened the availability of gas for domestic users and put upward pressure on prices.
+US gas exports squeeze domestic supply – Reuters
+What a ‘historic’ release and refill of SPR crude oil means for markets – CME on Institutional Investor
+Last gasp for Mountain Valley Pipeline natural gas project – CleanTechnica
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