After the leaks in the Nord Stream gas pipeline, that have led Berlin to say that it is considered lost forever, the gas price The reference price in Europe rose again above 200 dollars, after a stage of price moderation in recent weeks.
The German authorities already expect that the three pipes that make up the Nord Stream gas pipeline system in the Baltic Sea they will be unusable foreverafter those alleged acts of sabotage carried out this week, last Monday, which have caused significant gas leaks.
Will this aggravate the energy crisis in Europe? How will it affect the market?
According to Nicolás López, the price of energy is going to be one of the keys that will move the market. But it is more important to watch the price of oil than the price of gas. After breaking above $130 this year, it has moderated and is now below $90. This evolution will help reduce inflation, “it is positive and gives some hope”, explains the expert.
As for gas, it depends on the conflict in Ukraine the lack of supply that it can cause in Europe. The Old Continent is exposed to high prices and to obtaining alternative sources of supply, something that is still unknown. Looking ahead to what happens in the coming months, it is still unclear if there may even be gas cuts and how that would affect the industry and businesses.
what to expect from oil price? According to Darío García, from XTB, crude oil is being affected by expectations of further rate hikes by central banks, which will discourage consumption and cause prices to fall. On the contrary, it is expected that OPEC+ announces a production cut, which would boost the price. The expert points out that crude oil could rise and exceed 90 dollars in the short term, until it runs into the next resistance, at 102 dollars per barrel.