Gas and oil affect the performance of the European markets. OPEC + has decided to cut oil production by 100,000 barrels per day next month to stabilize the market, thus returning to August levels.
The European stock exchanges, orphans of Wall Street for the Labor Day holiday
,
closed down with gas and oil returning to rise.
On the energy front, tensions have not eased after Russia's decision to keep Nord Stream closed due to recent threats from the Kremlin.
Negative climate also in view of the rate hike by the ECB.
The area index closed the session down by 0.62%, burning 58.7 billion in capitalization.
In decline Frankfurt (-2.22%), Paris (-1.2%), Madrid (-0.88%) while London is flat (+ 0.09%).
The Milan Stock Exchange closed with a sharp decline.
The latest Ftse Mib index drops 2.01% to 21,480 points and sends 12 billion euros up in smoke.
The Stoxx 600 index, which brings together the main stocks of the Old Continent, drops 0.62% and burns 58.7 billion in capitalization.
The price of gas rises again
with the decision to leave the Nord Stream closed and with the new threats from Moscow on the energy front.
In Amsterdam, the price concludes trading at 245 euros per megawatt hour, with an increase of 14.6%
compared to the close on Friday but at a lower level than the 275 euros at the beginning of the day.
The gas war sets the agenda for leaders, from utility bills to nuclear power
The President of the European Council,
Charles Michel, arrived by surprise in Algeria for a working visit.
This was reported by an Algerian government source to ANSA specifying that Michel was received at the "Houari Boumediene" airport in Algiers by Algerian Prime Minister Aymene Ben Abderrahmene and members of his executive.
The EU president is expected to discuss various issues with Algerian officials and senior officials, including President Abdelmadjid Tebboune, including energy and supplying Europe with additional quantities of gas, the source said.
ANSA.it
EU ministers will discuss gas price caps and emergency funds - Europe
(HANDLE)
The gas stocks of the European Union have risen in the last week to 81.55%
of the storage capacity.
Data from GIE (Gas Infrastructure Europe) indicate, as of last Saturday, a filling of 85.55% of storage in Germany and 83.74% of those in Italy.
"
We have reached a level of filling in storage which today is around 83.5%,
we still need one billion and two hundred million cubic meters to reach the 90% target ". This was stated by Snam CEO Stefano Venier, during an interview with Rai News 24 on the occasion of Gastech 2022" Obviously , if we manage to fill a little more it will certainly be an additional contribution, not only to security for the winter, but also to have greater flexibility in responding to the volatility of supply from Russia ", added Venier." The data is positive, we had planned to reach a certain level at the end of August and we have achieved it exactly as planned ".
ANSA agency
Iran, we can meet the energy needs of Europe - the World
Iran will be able to help meet Europe's energy needs if the 2015 nuclear pact is relaunched and the sanctions against Tehran are lifted.
(HANDLE)
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