All oil and gas fields that were affected by a strike in Norway's petroleum sector are expected to be back in full operation within a couple of days, Equinor said today.
Analysts expect a quick resurgence in oil prices as supply tightness persists and as front-month spreads have held up despite Tuesday's price fall.Euro zone consumers cut spending on food, drinks and tobacco for the second straight month in May amid a spike in prices, according to estimates from the European Union statistics office Eurostat released today.
"The big question is whether this deterioration in growth prospects is enough to curtail tightening cycles - especially that of the Fed," ING analysts said. "The general view that the Fed might ultimately have more opportunity than many other central banks to continue policy normalisation," Unicredit analysts said.
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Euro just off two-decade low on energy price concernsThe euro was just off its lowest in almost two decades against the dollar as concerns about the impact of surging energy prices on the euro zone economy continued to weigh.
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