Europe's gas reserves are declining amid a cold snap and limitations on supplies from Norway
Gas supplies from Norway are expected to fall to their lowest level in more than 2 months. The drop in temperature has stimulated demand. Gas reserves in Europe are falling.
Servicing operations have caused production cuts at several Norwegian facilities. Concerns are eased by the high level of gas reserves in Europe and the large volume of LNG imports, despite supplies from Norway.
Low temperatures are expected for much of the week in northwest Europe. This could result in higher gas consumption over the next few days. Maxar Technologies' forecast suggests temperatures in London are 4.4°C below the seasonal average and 3.6°C in Paris. Next week is expected to be warmer.
A prolonged period of warm weather replaced by cold weather boosting demand for gas. The five-year average storage fill rate is 58%. Currently, it is 78%. According to the reserves this winter should pass without any major disruptions in Europe. Compared to the previous cold snap in early December, gas prices dropped by half.
At the present time, the cost of gold is firmly entrenched at $1,900 dollars per ounce. That mark is already very close to a possible maximum predicted by analysts. That kind of dynamics is driven by noticeable dollar weakening and decrease in the yields of the U.S. government bonds.
27 JanuaryAccording to expectations of strategists of the Internationale Nederlanden Groep, gold will grow in 2023.
27 JanuaryThe U.S. economy unfolded more actively in the fourth quarter than analysts might have expected. However, domestic demand grew at the slowest pace in 2.5 years, reflecting the impact of higher credit costs.
27 JanuaryThe U.S. strategic petroleum reserve (SPR) decreased by more than 40% in two years. The reserves were 371.57 million barrels on January 20, compared to 638.08 million barrels a year ago.
27 JanuaryThe European Union plans to implement a $100-per-barrel limit on Russian diesel fuel.
27 January