bullish
Weekly Stock Bullfinder - Week of 7/11
SUMMARY
- The war in Ukraine has thrown Europe into a full blown energy crisis that has resulted in a cost of living crisis for many EU countries as food and heating costs soar, manufacturing is hurt, and now new rationing measures are introduced ahead of the fall and winter.
- Looking ahead this month, the Nord Stream 1 gas pipeline, will undergo its planned annual maintenance from July 11-21, when gas flows will drop to zero, but there are growing concerns that it will not resume operations on time or even worse, that Putin will refuse to turn the gas pipeline back on at all while Europe desperately attempts to fill storage before winter.
- Just this past week, Russia cut gas flows to Europe to 40% of the pipeline's capacity, blaming delayed equipment repairs and leaving Germany and other European states racing to find alternative energy supplies.
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