Wednesday, 15 March 2017 09:50

Higher oil prices push up Russian crude-linked gas prices

The rise in oil prices from last summer onwards is now filtering through to Russian contract gas prices, while at the same time LNG prices and European benchmarks are falling – making Russian gas less competitive and increasing the likelihood of large volumes of LNG moving to Europe. The trend comes after a period of record Russian gas imports to Europe, coinciding with low gas prices linked to crude’s earlier weakness in 2015 and the first half of 2016.

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