Traders fear that supplies of “black gold” from Russia will fall in the coming months due to sanctions and the withdrawal of Western oil companies from the country.
The price of energy today has exceeded the levels since the crisis in 2012. Oil was traded on the stock exchanges today at a price of 119 dollars per barrel, which is the level since 2012. The price changes from hour to hour.
The price of gas, again, exceeded the expectation of Dmitry Medvedev, that Europe will pay the price of gas of 2,000 dollars per 1,000 cubic meters. In Europe, the price has already been exceeded. In Germany, the price of gas reached $ 3,000 per 1,000 cubic meters.
Experts say the war in Ukraine and sanctions on Russia scare traders that supplies of “black gold” from Russia will fall in the coming months.
– About 30 percent of European gas and oil imports come from Russia, and the country accounts for approximately 11 percent of world oil production. In short, investors fear a stagflation shock, said Shane Oliver, a strategist at the AMP Fund.
Russia is one of the largest exporters of energy in the world. The second largest oil exporter after Saudi Arabia and the largest exporter of natural gas. Russia receives 40 percent of its total gas and 30 percent of its oil supplies to Europe.