Alexey Gromov, Principal Director on Energy Studies at the Institute for Energy and Finance, commented to Sputnik radio how stopping gas supplies to Europe via Nord Stream due to planned work could affect the cost of fuel.
Alexey Gromov expressed the opinion that stopping Nord Stream would not lead to a new increase in the cost of fuel, since they knew about the planned work in advance, and brokers had already raised the price.
“Markets have already reacted to the shutdown of Nord Stream last week (the upcoming shutdown was announced on August 19 – ed.) with a sharp jump in prices to a level above $3,500 per thousand cubic meters. It seems to me that some significant price increase is higher we should not expect this mark in the coming days. It is possible that there will be some volatility, that is, prices will rise a little, and then bounce down, but no more. To understand what will happen to them, we must wait until September 3, when the work of Nord Stream will officially be resumed," Alexey Gromov explained in an interview with Sputnik radio.
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