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New lockdowns reduce demand forecasts - 22-11-2021

Prices has responded downwards with the news lockdowns have been announced in Austria, Croatia, Netherlands, and partial restrictions in many EU countries. Lockdowns typically curb commercial demand, although domestic heating in the winter sees a notable increase, so the demand impact is lessened. There is no suggestion the UK will be going into a lockdown, but with a more infectious  AY.4.2 variant of Delta spreading and Europe lighting up in red, there are some warning signs. High sustained infection levels and booster jabs over the Autumn will help boost the level of immunity central Europe lacks however. Time will tell and test our resilience.