November 30, 2022

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Raw materials d - oil is not cheap since January.  Gas drop for the fourth year in a row

Raw materials d – oil is not cheap since January. Gas drop for the fourth year in a row

Domain energy crisis It’s getting more and more dangerous, especially since the heating season is about to start. Other cities say they cannot buy energy. Wroclaw He even presented a plan to reduce electricity consumption. However, there is also good news from the raw materials market.

Gas price goes down

“Gas prices in Europe are falling on Monday morning. Standard gas contracts in Amsterdam (ICE Entawex Dutch TTF) are down 5.7%, the cost of gas is 175 euros per megawatt-hour” – Writes PAP BiznesQuoting brokers. And “Rzeczpospolita” notes in turn, That gas on the London Stock Exchange ICE fell by 6 per cent, below 1.8 thousand. dollar per thousand cubic metres.

More information from the world On the home page of Gazeta.pl

This is the fourth reduction in a row. in August Gas Prices hit record highs after Gazprom suspended its operations Nord Stream for three days due to scheduled maintenance. In September, the Russian company completely shut down the gas pipeline, covering itself with an oil spill on the only active turbines at the Portovaya pumping station.

But this time it did not cause such a shock. countries European Union Because they find more gas suppliers who can fill the shortfall in storage – this helps, among others Norway, the USA and the UAE. It is also important to forecast the appropriate weather for the onset of the heating season. The temperature is expected to be above the historical averageWind power conditions will remain normal.

Lowest oil prices since January

Prices have also fallen oil in the stock exchange. The price of a barrel of Brent crude oil is about $83. The last time oil It was very cheap in the middle of January. West Texas Intermediate crude is valued at about $79. This is the first time since January that the price has fallen below $80. Such prices are the expected effect in the West Recession An increase in the dollar index.

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fuel prices They are also pulling back after the June summit. However, they are still far from their January prices. When the price of crude oil was last the same, PB95 was 5.60 PLN each. The average price is currently PLN 6.19.

Fuel market analyst Dawid Kzobek told Gazeta.pl in April that Refineries are “golden laying hens” because margins have increased by several hundred percent. However, the government announced last Friday that it will provide Tax on windfall profits, which will also apply to energy sector companies.