The West’s choice not to include Moscow in the list of sanctions on energy and the possibility of starting talks between Russia and Ukraine restore “calm” in the European gas market, as after the brutal jump of 50% yesterday the price returns to the region under 100 euros.
At the same time, the signs of de-escalation of the tension are easing the pressure in the oil markets as well.
In particular, after the explosive jump yesterday that sent the price of the Dutch node (TTF) contract up to 130 euros, the signs of de-escalation in the Ukrainian crisis lead to dive 30% with the price falling to $ 95 the megawatt hour.
With Russia being Europe’s largest gas supplier, covering 40% of the Old Continent’s needs, the fact that the range of sanctions announced by both the EU and the US does not include energy products seems to reassure them. investors for the smooth continuation of Russian flows.
At the same time, in the news that seemed to further allay concerns, Kremlin spokesman Dmitry Peshkov told reporters that Russia was ready to send its delegation to Minsk for talks with Ukraine.
Earlier, the Russian news agency Ria reported that Ukrainian President Zelensky had invited Putin’s Russian counterpart to sit down at the negotiating table.
In the same context, after jumping above $ 100 yesterday, oil prices today are showing slightly downward trends.
In particular, brent sees the April contract fall by 1.33% and its price is set at $ 97.96 The US WTI in April fell slightly by 0.5% and is trading at $ 92.38 the barrel.
Source: Capital
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