Oil / Commodities - European gas prices hit a four-week low after EU reassures buyers that they can keep importing Russian supplies without breaching sanctions. Companies were told to make a clear statement that they consider their obligations fulfilled once they pay in euros or dollars. The announcement eases a weekslong standoff between the EU and Russia over energy supplies. Moscow has demanded that payments be made in rubles, with buyers opening two accounts at Gazprombank so that a currency exchange can be made. European companies were concerned that this might violate sanctions against Russia for its invasion of Ukraine. Russia’s natural gas shipments to Europe via Ukraine are set to remain curbed on Tuesday. however, EU imports of LNG and warmer weather as summer approaches have also contributed to the downward price trend. The record amounts of LNG imports into the content have driven storage back to more comfortable levels.
Newsletter - May 17, 2022
Newsletter - May 17, 2022
Newsletter - May 17, 2022
Oil / Commodities - European gas prices hit a four-week low after EU reassures buyers that they can keep importing Russian supplies without breaching sanctions. Companies were told to make a clear statement that they consider their obligations fulfilled once they pay in euros or dollars. The announcement eases a weekslong standoff between the EU and Russia over energy supplies. Moscow has demanded that payments be made in rubles, with buyers opening two accounts at Gazprombank so that a currency exchange can be made. European companies were concerned that this might violate sanctions against Russia for its invasion of Ukraine. Russia’s natural gas shipments to Europe via Ukraine are set to remain curbed on Tuesday. however, EU imports of LNG and warmer weather as summer approaches have also contributed to the downward price trend. The record amounts of LNG imports into the content have driven storage back to more comfortable levels.