Gas and oil close the week with losses | companies

Energy prices in Europe give a brief respite at the end of the week, even while waiting for the technical details of the Brussels plan to contain the energy crisis. The barrel of oil of reference in Europe, the Brent, leaves more than 3% at the average of the day and loses 6% in the week. With this decline, the fuel marks a drop of more than 30% and drills 90 dollars a barrel.

Benchmark gas futures in the Netherlands are down almost a little more than 4%, with a value of 179 euros (MWh). In the week, the value has left 5%, despite the rise of 13% on Tuesday.

Analysts remain divided on his forecast going forward. From MacroYield they maintain that the current strength of the dollar, the rise in profitability and the risks of a global recession prevent the recovery of the price of a barrel for the moment. In contrast, the Bank of America team argues that the Brent oil price could hit $100 by 2023, supported by a switch from gas to oil in the coming months.

With regard to gas, all eyes are on negotiations on the Asian continent, where the Dutch TTF index is not the benchmark. Chinese and Japanese importers claim that liquefied natural gas (LNG) prices remain too high and are wary of sealing new contracts, according to the Bloomberg news agency. This decision could directly affect Europe, which has increased its LNG imports by more than 40% so far this year.


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