First, as you may have heard, Russia cut the tap indefinitely for Nord Stream 1 pipeline gas flows. Russian President Vladimir Putin today blamed Germany and Western sanctions for the halt in operations, but said that gas flows could restart tomorrow, provided it gets the key turbines needed.
Second, at OPEC’s meeting Monday, cartel members agreed to cut oil production by about 0.1% of global output.
These two levers set the backdrop for today’s newsletter.
