© EPA
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Crude oil will become more expensive on Monday. The tense situation between Russia and Ukraine and a tight market are pushing prices up. The same applies to the price of gas and electricity: these are also shooting up.
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gjsSource: Belgian
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Crude oil prices rose to their highest level since 2014. A barrel of North Sea Brent oil rose 1.3 percent to $95.66, while a barrel of American WTI oil rose 1.6 percent to $94.57.
There are fears that the already tight supply of oil will be disrupted in the event of a Russian invasion of Ukraine. In Russia and Belarus, more than 100,000 troops and many military vehicles and weapons have moved towards the border with Ukraine in recent weeks. The fear is that the Russians are trying to surround the country in this way to make an invasion easier. Analysts expect the USD 100 and more mark to be in sight as long as tensions persist.
The same goes for gas prices. The price of a megawatt hour of gas on the Dutch futures market, which leads European gas prices, shot up 14 percent in the morning to 88 euros per megawatt hour. That is the highest price in two weeks.
After that, the price dropped again. Around 9 am, a megawatt hour of gas in Amsterdam cost more than 81 euros, an increase of another 5 percent.
The German electricity price rose 11 percent on Monday morning, to 177 euros per megawatt hour.
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