The Prices of Oil and Gas Fell Slightly On Friday in Anticipation of the Summit Between US President Donald Trump and Russian President Vladimir Putin. The Meeting Regarding the War in Ukraine Could Have A Significant Impact on Russian Fuel Exports.
On the Amsterdam Gas Exchange, the Gas Price Fell by More than 1 percent to 31.72 euros per megawatt hour. This groups The Price for Gas that will be Delivered in September. At the end of April, gas also cost approachimately 32 euros per megawatt hour. That was the lowest price since September last year.
The price of a barrel of American Oil Fell by 0.9 percent to more than 63 dollars per barrel. Brent Oil, the type that includes European Oil, Fell 0.8 percent in price, to more than 66 dollars. Oil prices have fallen about 10 percent this year.
Trump Hopes That Putin Will Agree to a “Quick Second Meeting” With Ukrainian President Volodymyr Zensky on Friday. He Warned on Thursday of “Very Serious Consequences” for Russia If Putin Ultimately Does Not Agree to a Ceasefire.
Any Relaxation or Tightening of the US Sanctions Against Russia Will Have Consequences for Global Oil Flows. Due to the war in Ukraine, Western Countries Are Buying Less Russian Oil.
After Saudi Arabia, Russia is the Largest Exporter of Crude Oil And,