Expert: Gas Prices May Reach New Peaks This Winter Amid Severe Cold Weather
“I think that this winter we will see the peak of the energy crisis. We have not seen this since 1973. But this year, this winter, we will see the peak of the energy crisis,” he said, answering a question about the energy crisis. Against this background, Jacobsen believes, oil prices will rise as well. "I would not be surprised if we see oil prices above $ 100 per barrel already in the first quarter of 2022," he said.
At the same time, Jacobsen believes that after passing the peak, the energy crisis will end in 2022.
“I'm not a meteorologist, of course, but looking at the main long-term forecasts regarding the rate of cooling of the upper atmosphere, we have a very high probability that the winter will be very cold. This is according to the meteorological studies that I have heard. In this case, prices natural gas, oil and LNG prices will go up because inventory levels are low. It's kind of a perfect storm. That is, inventory levels are low, the weather is cold, and prices are already high. Where can they go? Only higher naturally, "he reasoned.
According to Saxo Bank experts, the current pause in gas price volatility is temporary. "We see the prospect of higher prices, both in Asia and in America and Europe," he concluded.
Earlier in "Gazprom" said that they also do not expect a noticeable decrease in the price of gas in Europe in the coming months, but its cost in the region of $ 1000 per 1,000 cubic meters. m is not stable.