Energy prices have fallen sharply in the wake of optimism about the outcome of the Russian-Ukrainian crisis, following Moscow’s announcement that it was withdrawing some of its troops from the Ukrainian border.
In particular, the stock market price of natural gas (Dutch TTF) is currently at the level of 73.8 euros / MWh, having fallen earlier to 72.5 euros / MWh, recording a decrease of 10% compared to its levels price yesterday (79.6 euros / MWh) but also 18% compared to yesterday’s high of today (88 euros / MWh).
The main reason for the decline in gas prices are the optimistic assessments of the Russian-Ukrainian conflict and the information that ultimately want to avoid a military conflict.
It is recalled that Russia is the main supplier of gas to Europe, supplying about 40% of the gas consumed by Europe.
In fact, 30% of Russian exports are made through the Ukrainian pipeline, which in the event of a conflict, has been discounted and will be shut down.
In a similar climate, oil prices are falling as concerns about developments that would disrupt supply fall.
Brent crude for April delivery was trading at $ 93.96 a barrel, down 2.6% or $ 2.5. Similarly, the US crude WTI sees the price of the March contract fall by 2.8% or $ 2.7 and stands at $ 92.73 a barrel.
It is worth noting that during the day, losses for crude had reached up to 4%.
Source: Capital
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