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Will a U.S recession be declared today?

Close price: Mixed signals from the market yesterday, but overall its another consecutive day of price rises. Nord Steam 1 moved to 20% capacity flows as stated. The returning turbine is yet to be installed, so we are unlikely to see this figure increase anytime soon, with the obvious risk it could drop lower.

Opening price: Prices are trading lower this morning. UK system is oversupplied this morning, with Norwegian export nominations expected to reach the highest levels seen this month today. Gas to Power generation is 56% of the UK Energy mix.

Oil is finding support from a weakening Dollar. The US Dollar has been on an incredible run in the last few months, becoming stronger than the Euro recently, but has since pulled back. A weaking dollar will help with the purchasing of oil in foreign currencies.   

Today’s a big day for the U.S, When we get advanced estimates of its Q2 GDP, which could declare its in a recession and may impact commodity prices down. The fact the White House released a paper this week, trying to re write the narrative and definition of a recession might give you a clue.