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Sir Isaac Newton famously theorized in his laws of motion that objects react when force is applied. And just as an inert object remains at rest if not acted upon, the European steel industry – without government regulation and end-user demand – might not have acted to reduce carbon emissions as quickly as it had in recent years
This week, S&P Global Commodity Insights editors zoom in on the market's reaction after Saudi Arabia announced over the weekend its plans to cut crude oil output by 1 million b/d in July. Eyes are also on Japan's power demand and Russia's pipeline gas imports into Europe. 1
US efforts to rein in Iran's nuclear program have moved out of the spotlight, but the administration of President Joe Biden continues to pursue a diplomatic solution in hopes of staving off geopolitical unrest and military conflict that would roil global oil markets and worsen the ongoing energy crisis
