Posted on 10/09/2021 10:00:27 AM PDT by Navy Patriot
Izvestia: Why EU gas prices started to backpedal
It is possible that gas prices in Europe will once again start to climb amid a shortage of raw materials and verbal interventions by European regulators, according to analysts interviewed by Izvestia. On October 7, gas prices dropped below $1,000 per 1,000 cubic meters, essentially halving in less than a day. EU media linked the drop in energy prices to statements by President Putin about the possibility of boosting supply on the market.
The hikes in fuel prices has been evident since the beginning of summer, when, due to the increasing demand for resources in Asia, suppliers shifted to this region. In August, when it became clear that European underground gas storage facilities were not ready for the heating season, the price of fuel began to break records almost every day. However, the recent reversal in prices could be associated with Russian President Vladimir Putin’s recent comment about the country's readiness to stabilize energy prices.
That said, Head of the Center for Analysis of Strategy and Technologies for the Development of the Fuel and Energy Complex at the Gubkin Russian State University of Oil and Gas Vyacheslav Mishchenko believes that what is happening in Europe is "a man-made crisis". "The foundations that had been created over the previous several decades were systematically destroyed. This is a system of long-term contracts, which was based on oil index formulas for gas supplies primarily from Russia," he told Izvestia.
According to analyst at Raiffeisenbank Andrey Polishchuk, what is happening now in Europe can be called a traders’ panic. From the point of view of supply and demand, the situation has changed very little, and what we are seeing is a price hike not on the physical shipment market but on the futures market," he stressed.
(Excerpt) Read more at tass.com ...
This is the only immediate English translation of Isvestia available, and this Press Review contains multiple articles.
The excerpt is only the Isvestia article.
Markup doesn’t work in the heading
Putin’s actions regarding the European Natural Gas market are both stabilizing and entirely Capitalistic.
So I found out.
I was trying to indicate the particular article without removing any keywords in the headline so "Search" will work correctly.
I care about the EU as much as the EU cares about the individual liberty of Americans.
I agree with that sentiment
The purpose of my post was to illuminate the actions of the EU Globalist/Ukraine Nazi/US Democrat European Natural Gas Market Manipulation, the details of which only come from Russian News Sources like Tass and Izvestia.
Oh I get you. Fully agree.
Boy, Oh boy!! If Trump were president he would be all over this making deals, trading and selling our abundance of coal, oil and gas to Europe. It would be a financial bonanza for the good ol’ USA !!
we can dream, can’t we!!
We can indeed dream.
I like Putin far more than I “like” SlowJoe. Smarter guy, and Russia is going in a good direction under his leadership. So he offs a few rivals. Fauxi has offed a thousand people with his stupid bugs and vaxes.
Putin and Trump understood each other I believe. Mutual respect at least.
with the way nations are lining up now - China, Iran, Pakistan, Afghanistan, et al - I can foresee Russia and the US becoming allies in ten years, or more, from now. Our interests will become more common, and our enemies ideologies more different.
Russia is very different from the USSR days.
Although I still don’t trust them and they will do what they can to weaken the US and reduce our major world power status.
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