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Fluctuations and changes in the energy market in 2024
During the last week, the energy market experienced heavy fluctuations. Brent oil prices fell 6.11 percent to $82.00, while gas prices rose more than 11 percent. The price increase in the coal market has also been significant.
These fluctuations have happened due to tensions in the Middle East region and changes in demand. The chart of weekly and monthly fluctuations of energy prices shows that:
The price of Brent oil has retreated to the $82 channel, and the crude oil price has also decreased to the $78 channel, and the total price of oil has decreased by 8.64% in the last one month. Analysts cite the possibility of a reduction in tensions in the Middle East and weak economic data from the United States as the reasons for this decrease.
The price of natural gas increased by 11.8% to $2.15 per million BTU. This increase in gas prices in Europe has happened due to the growth of gas prices in this region.
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