What to Watch as Commodities Markets Brace for Hits to Supply
- Europe mulls emergency measures as Russia keeps pipeline shut
- Extreme weather watch shifts to the US Gulf and California
A firefighter during the Route Fire in Castaic, California, on Aug. 31.
Photographer: Eric Thayer/BloombergThis article is for subscribers only.
Supply issues are set to dominate commodities trading in coming days, with Europe’s natural gas shortage in focus along with an OPEC+ decision on what’s next for oil flows.
The prolonged closure of a key gas route from Russia threatens more turmoil for global gas and power markets, and spells deep trouble for Europe’s economy. The region’s leaders will consider extraordinary measures in response. The OPEC+ gathering later Monday comes after Saudi Arabia flagged the possibility of supply cuts for crude.