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What Happened Monday
The US and Canada may have been on holiday on September 5, but the world waits for no one and there were several significant developments. First, Gazprom's decision to indefinitely suspend gas shipments through the Nord Stream 1 pipeline announced before the weekend saw the European natgas benchmark soar 23.7. Recall that in the week ending September 2, this benchmark plummeted 32%. The euro briefly traded to be 20-year lows, slipping below $0.9900 to a little through $0.9880 before stabilizing. since the low was recorded in Asia, the euro did not trade above $0.9945. The EU energy summit will be held Friday. Second, ... (full story)