The United Kingdom has a two-day public holiday on Thursday and Friday to celebrate the sovereign’s platinum jubilee, so Best in Energy will resume on Monday.
OPEC ⁺ explores suspending Russia allocation ($WSJ)
Russia prepares to re-route oil from Europe to Asia
India’s private refiners benefit from cheap Russian oil
India’s record renewables output eases coal shortage
Africa pushes back against emissions hypocrisy ($FT)
U.S. retailers attempt to resist price increases ($WSJ)
Global diesel and gasoline shortage raises prices ($FT)
U.S. residential use of air-conditioning reaches 88%
OPEC’s spare capacity and market stabilisation
EUROZONE manufacturers reported a further slowdown in growth last month as rapid inflation and the war between Russia and Ukraine took their toll. The manufacturing purchasing managers’ index slipped to 54.6 in May (65th percentile) from 55.5 in April (74th percentile) and 63.1 in the same month last year (100th percentile):
EUROPE’s gas futures summer-winter calendar spread from July 2022 to January 2023 is moving deeper into contango as inventories rise at the fastest rate on record alleviating some concerns about filling storage sites:
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