The start of supply from Russia's new project for producing liquefied natural gas (LNG), Arctic LNG 2, has been postponed after the company announced force majeure circumstances regarding supplies due to US sanctions.
Stocks are up, U.S. interest rate expectations are getting tweaked lower and yields are in a downdraft after a handful of Fed officials suggested that a weeks-long run-up in yields might be bolstering their fight against inflation. Bankers applauded in Nashville when Atlanta Fed President Raphael Bostic said on Tuesday he thought rate rises had gone far enough and hope is flowing, again, for a peak in rates. Benchmark 10-year Treasury yields were steady in Asia - down 15 basis points for the week so far at 4.64% - and regional stocks scaled two-week highs as risk sentiment attempted a recovery after getting beaten down in recent weeks.
Elevated premiums in the European natural gas markets are a relatively new development. But anxieties over supply security and gas prices have been years in the making.