Russia (bbabo.net), - The cost of the March futures for a thousand cubic meters of gas during exchange trading on February 15 fell below $800 for the first time since the beginning of 2022, according to ICE data. The spot price for TTF with a day-ahead delivery was $798 per thousand cubic meters by the end of the trading session, according to Bloombe terminal data. Over the past day, gas prices in Europe have fallen by 15%.

Gas prices began to fall on Tuesday morning, the reason was the weakening of geopolitical tensions between Russia and Western countries, in particular against the backdrop of the return of troops from the Southern and Western military districts of the Russian Federation to their places of deployment after the exercises. The Russian stock market also reacted to this message from the Russian Defense Ministry (growth on the Moscow Exchange by 3.5-5%) and the ruble, which strengthened against the dollar and the euro.

The results of negotiations between Russian President Vladimir Putin and the new German Chancellor Olaf Scholz also had a positive impact on gas prices and other financial markets. In particular, the question was raised of the prospects for the Nord Stream 2 gas pipeline from Russia to Germany and Ukrainian transit after 2024, when the long-term contract for the supply of Russian gas to European consumers along this route ends. Vladimir Putin assured that if there is sufficient demand from the EU and the Ukrainian gas transport system is in good condition, transit will continue.

bbabo.Net