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By Ivaylo MARKOV, Managing Partner of Thales Capital
The old song in a new voice - the first Monday of September again revived concerns in Europe about energy shortages. The reason was again the suspension of Gazprom's supplies via Nord Stream 1 - this time for an indefinite period. The result: gas prices rose nearly 30% in early trade, oil rallied again, European stocks sank, and the euro hit a new 20-year low against the dollar.
Let's start with the gas. After natural gas prices on August 29 reached a record 345 euros per megawatt hour on the Amsterdam stock exchange, within a few days the quotations returned by almost 40% to 215 euros on Friday 2nd September. The reason for the decrease in prices may be the filling of reserves in European...
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