Stock market analytics, financial forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

The gas price in Europe has broken a historical record


September, 13 2021
watermark Economic news

The cost of gas on the European market has set another record, for the first time in history exceeding $750 per thousand cubic meters. The price of «blue fuel» broke the previous record in the previous trading session on Friday, when gas rose to $710.


Analysts suggest that the price increase was facilitated by the policy of the European regulator, which focused on exchange mechanisms in determining the value. Moreover, gas in Europe is becoming more expensive due to a decrease in the level of reserves in underground gas storage facilities (UGS). The current occupancy rate of gas storage facilities is 70.45%, which is 15.5 percentage points lower than the average for the last five years.


In addition, in August, gas supplies to Europe were reduced for several days in a row after the accident at the Gazprom plant in Novy Urengoy. Also, the increase in cost is due to the fact that Gazprom does not intend to significantly increase pumping and sales against the background of the launch of Nord Stream 2.


Logo

QUICK LINKS

Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.