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LNG cargoes choosing Asia over Europe - 28-06-2021

Prices have made further marginal gains, mainly boosted by the fact LNG cargoes are favouring Asia over Europe, with an increasing amount of volume heading East for a better price. OPEC are due to meet on the 1st July, where it is expected that they will agree to boost supply. This could final signal a shift in momentum of oil prices, with brent now trading at $76/barrel. However, many though they would boost supply in June, and did not so its wait and see on Thursday.