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Why the ‘great de-stocking’ in oil and commodities could pave the way for future gains

Goldman Sachs Exchanges

CHAPTER

The June 4th OPEC Plus Meeting

European natural gas prices have fallen to the lowest level since the start of the energy crisis. They're down to 29 euros a megawatt hour, that's 10% of the peak last summer. The industrial demand weakness driven by de-stocking cannot continue to go on unless we have a substantial recession,. And the consumer conservation efforts won't hold a 29 euros amegawatt hour.

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