Now: Situation is Calming Down but Dollar Remain on Demand
The energy industry crisis is far from settle down. Europe who is closes to the Russia is embracing the impact from the lack of the energy resource. The German Economy Minister Robert Habeck stated that this situation will greatly impact the financial market. German currently already in alert level 2 might soon need to intervene into the energy market in order to control the price that keep soaring as the supply from Russia is sparse.
On another note, from the global crisis, the Norwegian old and gas association report that the workers on the offshores are on strike in demanding the rise of wages. From estimation, around almost 340,000 barrels reduce from the daily output in which putting more strain on the stability of the crude oil price.
6 July 2022