(ANSA) – MILAN, MAY 20 – The heat has stopped natural gas prices on the 86th day of war between Russia and Ukraine. Futures contracts for the month of June show a drop of 0.46% to 90.68 euros per MWh for methane in the Amsterdam market, while those for the month of July lose 0.54% to 93.04 euros per MWh. A consolidated practice – the experts explain – linked to the arrival of the summer season, during which gas consumption is reduced and stocks are made up for next winter.
Crude oil is stable, losing 0.17% to 112.02 dollars per barrel (Wti), while Brent (+ 0.05%) is trading at 109.94 dollars per barrel. Metals go against the trend, starting with Nickel (+ 7.92% to 28,231 dollars a ton) and iron (+ 3.38% to 827 dollars a ton). A dynamic linked to China’s decision to cut the 5-year ‘Prime Rate’ rate to 4.45% to encourage the recovery of investments after Covid. An unexpected move by the market that is supporting equity markets in Europe. Steel (+ 1.99% to $ 4,611 a ton), copper (+ 1.95% to $ 9,415 a ton) and gold (+ 0.91% to $ 1,845 a ton) did well. In contrast to agricultural raw materials, with durum wheat down 1.14% to 1,280.5 dollars per contractual unit from 5 thousand bushels (bushels) and soft wheat by 1.08% to 1,187 dollars.
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Source: Ansa
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