EU/Russia gas pipeline flows fall sharply
U.S. frackers warn of supply chain limits
China’s plan to centralise iron ore purchasing
U.S. leaders embrace subsidies, tariffs ($WSJ)
Grid-scale batteries used for price response
U.K. households face winter bill crisis ($FT)
West London’s local power constraint ($FT)
U.S. PETROLEUM inventories depleted by -9 million bbl in the week to July 22, with declines in commercial crude (-5 million), gasoline (-3 million), and distillate fuel oil (-1 million) as well as a drawdown in the SPR (-6 million), partially offset by increases in propane (+3 million) and other oils (+3 million). Petroleum inventories have depleted in 80 of the last 108 weeks by a total of -438 million bbl since the start of July 2020. Total stocks are at the lowest seasonal level since 2008 and show no signs of rebuilding:
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