Gas prices in Europe fall to their lowest level in a year and a half due to Trump’s plan for Ukraine
23 November 04:15
Gas prices in Europe have fallen to their lowest levels since May 2024. This is how the market reacted to US President Donald Trump’s peace plan for Ukraine and Ukrainian President Volodymyr Zelenskyy’s willingness to work on the document, "Komersant Ukrainian" reports, citing Bloomberg.
According to media reports, the cost of a thousand cubic meters almost dropped to $360. The dynamics of quotations were influenced not only by forecasts of warm weather, but also by discussions of a new plan to end hostilities in Ukraine.
European gas traders are closely monitoring the developments, as Kyiv’s signing of a peace agreement with Moscow could lead to the lifting of sanctions against Russia. At present, Russia covers only about 10% of the EU’s gas needs, but if sanctions are eased, Russian fuel supplies to the world market could rise sharply, which would affect prices, the article notes.
The day before, Trump said that Kyiv should agree to his new plan to resolve the war by November 27. The Washington Post reported that otherwise Washington might stop supporting Ukraine. In Kyiv, they talked about the need to change some points of the document. According to CNN, the White House allows for this option.
