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Europe’s Gas Emergency Tops Formidable Risk-List For Commodities

  • German economy minister says Putin waging “economic warfare”
  • New coronavirus outbreaks in China add to headwinds for demand
Updated on

Commodities opened Monday on steadier footing after last week’s turmoil, but investors face a daunting slate of immediate risks -- from a European gas crisis to fresh Covid-19 flare-ups in China and fears of a global economic slowdown.

Germany must get ready for more cuts to gas supplies as Russia’s “economic warfare” against Europe intensifies, German Economy Minister Robert Habeck warned. Gas traders and consumers are watching how governments in Europe prepare. Energy policy is also center-stage in the US, after President Joe Biden’s comments on gasoline triggered a weekend Twitter spat with billionaire Jeff Bezos.