Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Gas prices soared after the damage to the Nord Stream


September, 27 2022
watermark Economic news

According to the trading data, the exchange price of gas in Europe exceeded $1,900 per thousand cubic meters. In particular, the cost of the October futures on the TTF hub in the Netherlands increased by 11%, reaching €192.84 per 1 MWh, or $1948 per thousand cubic meters.


The driver of the price increase was the news about a sharp drop in pressure in both lines of the Nord Stream gas pipeline, which supplies gas from Russia to Europe. The operator of the Nord Stream AG gas pipeline stated that in one day, damage of an unprecedented nature occurred simultaneously on all lines of the offshore gas pipelines of the Nord Stream system (including on one line of the inactive Nord Stream-2).


«It is not yet possible to estimate the time frame for restoring the operability of the gas transportation infrastructure,» the pipeline operator said in a statement.


Sources connected with the investigation of the incidents report that the cause of the incident could be sabotage. However, there is no reliable information about the causes of the pressure drop in the pipeline yet, the investigation is ongoing.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.