Against backdrop of Nord Stream shutdown, gas prices may reach August highs, - Bloomberg
Against the background of the shutdown of the "North Stream" pipeline, a race for gas prices with the achievement of August maximums may begin. Russia’s actions are reversing the recent decline in value.
As Censor.NET reports, this was reported by Bloomberg with reference to the investment company Goldman Sachs Group.
A recent report by the firm mentioned Gazprom's decision to stop Nord Stream. The news is likely to "reinvigorate market uncertainty about Europe's ability to manage storage over the winter" and fuel "a significant rally from Monday, potentially mimicking August highs." This is the opinion of analysts, including the head of Goldman Sachs energy research Damien Courvalin.
The situation with the cost of gas may worsen towards the end of the season, when supplies are depleted. Another dangerous option is severe cold, which will force Europeans to increase heating. However, Goldman Sachs believes that the potential shock price increase will be short-lived. Europe will be able to stabilize the price of gas at a level slightly higher than the current one — approximately 215-230 euros per megawatt-hour.
We will remind, against the background of the news about the filling of gas storages of the leading European countries, the cost of the energy resource began to decrease.
