New price increases are imminent, market commentary by Dieter Kuckelkorn Frankfurt (ots) – The prices of the energy sources natural gas and crude oil are currently at a low level, at least in a short-term comparison. Brent Crude was trading well below $90 a barrel ahead of the weekend, down 38% from the year’s high of nearly $140. On the European spot market for natural gas, the monthly contract is traded at EUR 110.76 per megawatt hour, a drop of almost 70% compared to the high for the year of almost EUR 350.
Despite the relaxation that can be observed on the energy market, it is far too early to speak of an end to the European energy crisis. The current price level is still well above what has been the norm in recent years. For example, natural gas was quoted below 20 euros per megawatt hour until the summer of 2021. Based on this brand, the price has more than quintupled at the current level. Above all, however, new strong price increases can already be seen on the horizon.