Gas prices have been reduced in the EU
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Front Month (May resource) natural gas futures prices on the Dutch TTF hub fell below €40 per MWh for the first time in over a month in the second half of Friday, April 17.
About this writes profile publication ExPro.
The lowest price was fixed at 38.43 euros per MWh.
The publication notes that compared to the previous day, prices at the European hub fell by approximately 9%, although after a certain correction they stabilized at the level of 39.1 euros per MWh (-7.8%). When converted, the cost of gas is about $490/ths. cube m
The decrease in prices occurred immediately after the statement of the head of the Iranian Ministry of Foreign Affairs about the opening of the Strait of Hormuz.
According to him, Iran opens the Strait of Hormuz in response to the achievement of a ceasefire between Israel and Lebanon.
The statement of the Iranian side caused a sharp decline in the prices of natural gas and oil on the world markets, as it indicates the possible continuation of negotiations between the United States and Iran, which could lead to a complete end to the war in the Middle East and the restoration of the supply of energy resources through the Strait of Hormuz.
However, no LNG tanker has yet crossed the Strait of Hormuz, and US President Donald Trump has announced that the US blockade of the Strait of Hormuz will continue for Iran.
Taking into account the sharp decline in natural gas prices in Europe, gas on European hubs is traded 7 euros per MWh cheaper than on the Ukrainian market.
“The decrease in gas prices in Europe may lead to the resumption of commercial imports of natural gas to Ukraine as early as May,” the publication noted.
We will remind:
Iran statedwhich opened the blocked Strait of Hormuz.
Crude oil prices fell down below $90 a barrel after news that Iran had opened the Strait of Hormuz, through which significant volumes of world oil pass.
