Natural gas: a new decline in prices in Europe – a slight rise for Brent crude

Natural gas prices in Europe hit new lows today as demand continues to decline Warehouses are full Still above 90% despite the cold weather.

The contract for January delivery (TTF) was down 4.3% at 11:00 am. At a price of 36.9 euros per megawatt hour After breaking the 40 euro level last week.

Azerbaijan said it could To achieve the goal of doubling gas exports in Europe. The large supply of liquefied natural gas in Europe, especially from the United States, has a downward impact on prices.

An unstoppable decline in oil prices

Oil prices rose slightly on Friday, after halting the decline witnessed in recent weeks on Friday following stronger-than-expected US jobs data and the Biden administration’s policy of lowering interest rates. Strategic stock replenishment. There are also signs of increased demand for travel to the US, with the year-end period expected to be the strongest since 2000.

Brent rose 0.4 percent to $76.17 a barrelBut it has fallen by about 20% since late September, as even additional production cuts announced by OPEC were not enough to reverse the downward trend.

the Increase production from non-OPEC+ suppliers, Especially the United States, along with estimates Due to slowing demand from China The possibility of a recession in the US economy limits the scope of crude oil price increases.

“Gains remain limited in the new week due to concerns about demand from China,” one analyst said, adding: “The current price level may replenish some US strategic stockpiles, but it remains to be seen whether this is a real low.” “.

Airlines, utilities and other consumers have taken advantage of the recent decline in prices to secure cheaper supplies.

With information from Reuters and TeleTrader

Follow Imerisi on Google News!