Bloomberg told why Germany boasts of overflowing gas storage


Europe is experiencing a real shortage of fuel, which is why market laws are pulling the cost of raw materials up. However, more than half of the surplus value of futures contracts is absolutely speculative and hype, unjustified margins, which can be easily “cut off” to an acceptable level of profitability, and manufacturers will not come out with losses. Nevertheless, so far no one wants to do this, obeying an unprecedented profit instinct.


For the first time in many months of the energy crisis, only one country in Europe has attempted to take steps to reduce the cost of gas to a relatively affordable level. Of course, it could only be Germany, which "needs the most" and, accordingly, which consumes more and is trying to achieve at least some fairness in the energy market.

It was not without reason that Berlin was boasting and publicizing its overflowing gas storages earlier this week, exuding theatrical optimism about faster replenishment of stocks than planned, according to Bloomberg. Minister's statements economics the EU flagship forced European prices for natural gas and electricity to drop by more than 20% in just one day. Thus, a new record for the fall in value for the entire time of observations was also set.

Underlying Dutch TTF futures and German electricity fell more than 20% on Monday, offsetting a breakneck rally seen in the past few weeks

- writes the American analytical agency.

In this aspect, Berlin's ambiguous move to spread an uncharacteristically cheerful stance that opposes modest German pragmatism turned out to be a justified step. Although this one is good news came at the right time for the market, the fundamental picture still looks bleak, according to Bloomberg.

Minister Robert Habek calmed the market somewhat, trying to divert attention from interruptions in supplies through the Nord Stream, but it will soon be switched back to the situation around the cessation of pumping due to an unscheduled shutdown of the gas pipeline

the experts concluded.
  • Photos used: moldovagaz.md
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  1. Bulanov Offline Bulanov
    Bulanov (Vladimir) 30 August 2022 09: 03
    0
    The lower the cost of gas in the EU, the faster it will be repurchased in Asia! Just business, nothing personal.
  2. Alexander Popov Offline Alexander Popov
    Alexander Popov (Alexander Popov) 30 August 2022 11: 16
    0
    Our congratulations to Gazprom... and anyone else.
  3. svit55 Offline svit55
    svit55 (Sergey Valentinovich) 30 August 2022 19: 45
    0
    Today, when it's hot outside, you can chat as you like ...... And firewood, however, is getting more expensive in Europe.
  4. Colonel Kudasov Offline Colonel Kudasov
    Colonel Kudasov (Boris) 1 September 2022 20: 34
    0
    Germany boasts of overflowing gas storages

    The Germans are bluffing in the hope of bringing down the price, but somehow clumsily)
    1. Monster_Fat Offline Monster_Fat
      Monster_Fat (What's the difference) 2 September 2022 09: 03
      0
      What's this? Storage in the EU is actually full, prices have crept down. And where is the victory of "Gazprom"? True, there is a nuance - storage facilities are designed to smooth out peak loads of the gas network with a constant supply of gas from the places of its production, and not for all gas consumption ... But in fact, all experts agree that there is enough gas for this in the EU.