From S&P Global: 2024-06-09 23:00:00

OPEC and the International Energy Agency release monthly reports on oil markets, following a decision to phase out some output cuts that softened spot prices. The G7 Summit in Italy may provide insight on the West’s stance on a price cap for Russian oil exports.

The US Federal Reserve’s interest rate decision is expected this week, with focus on any shifts that could impact global economic activity and crude oil demand. Container rates ex-China to the US may rise with a planned $1,000 General Rate Increase, prompting an early start to peak season for container imports.

Natural gas markets are awaiting news on the start-up of the Mountain Valley Pipeline in the US, expected to ship up to 2 billion cubic feet per day pending final regulatory approval. The IGC Grains Conference in London will discuss global agriculture supply and demand, with a focus on South American corn driving the world’s total grains outlook.



Read more at S&P Global: Market Movers Global, June 10-14: OPEC, IEA to release oil data; US Fed’s interest rate decision in focus