May 26, 2022

Taylor Daily Press

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Gas prices calm down, but heating oil continues to break records due to the war in Ukraine |  cash

Gas prices calm down, but heating oil continues to break records due to the war in Ukraine | cash

The price of heating oil continues to break records. As of tomorrow, a liter of heating oil (50S) will cost a maximum of 1.31 euros (+9 euro cents) with an order of 2000 liters. For less than 2000 liters, that is 1.34 euros, at the pump up to 1.45 euros. Gas price will remain below yesterday’s level.

The previous fuel oil record goes back to today only. The price hike is the result of oil product price quotations in international markets. They have been escalating for days as a result of the war in Ukraine.

The current peak exceeds the peak of July 2008, when a maximum of €0.95 per liter was paid for more than 2,000 liters of heating oil. For under 2000 liters, that was a maximum of €0.98 per liter.

oil

The price of Brent oil from the North Sea rose to more than $130 a barrel this morning. In the past seven days, this oil has become more expensive by 15 percent; In one month more than 40 percent were added. The US WTI oil also continued its advance and its price this morning reached 125.85 USD per barrel.

Gas

The price of gas in Europe fluctuated this morning by about 190 euros per megawatt hour. Yesterday it cost more than 200 euros, and earlier this week a record price of 345 euros was reached.

The market is still very volatile. made yesterday The US government announced a moratorium on the import of Russian fossil fuels (gas, oil and coal).† London will also stop importing Russian gas at the end of this year. This is considered more difficult for European countries, because they are more dependent on imports from Russia. Yesterday, Europe agreed to Russian gas use will be two-thirds lower by the end of this year

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Scholarships

Stock markets in Europe opened significantly higher today, despite the ongoing conflict in Ukraine. In Brussels, the Bel20 index rose more than 3 percent after half an hour of trading. Gains of more than 3.5 percent were also recorded in Paris and Frankfurt.

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Fuel oil, fuel and gas have never been so expensive: ‘This is how Europe pays for war’