Gas prices also reflected the increase in oil prices following the Ukrainian attack on Russian oil refineries.
European natural gas prices rose for the fourth day in a row. This is due to the reduction in supplies from the American Freeport LNG plant and drone attacks on Russian refineries, writes Bloomberg.
Futures prices jumped 7.7% on March 18, the biggest intraday increase since January 3.
It was noted that one of the factors driving the increase in prices is the reduction of supplies at the Freeport LNG export plant in Texas, as some work will be extended until April. And in Norway, unplanned technical disruptions are reducing pipeline gas exports.
Gas prices also reflected rising oil contract prices following Ukrainian attacks on Russian oil refineries, raising the “geopolitical temperature.”
Let’s recall that in one night SBU drones attacked three factories in Russia – in the cities of Ryazan, Kstovo and Kirishi. On March 12, drones disabled one of the most powerful oil refineries in Russia, LUKOIL-Nizhnegorodnefteorgsintez.
The latest attack by Ukrainian drones caused the closure of three oil refineries in the Russian Federation. Thus, Russia lost 12% of its oil refining capacity.
Source: korrespondent
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