The price of Brent crude stood at $115 per barrel on Tuesday after rising to $117 per barrel on Monday, as a result of renewed diplomatic efforts to reach an agreement in the U.S.-Iran conflict.
At the same time, the price of TTF natural gas—a benchmark for Europe—is falling to 96 euros per megawatt-hour after rising to a four-year high of 97 euros.
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Bombings on both sides in ukraine
Specifically, Brent crude oil futures contracts for December delivery posted a marginal increase of 0.08% on Tuesday morning, to $115.89 per barrel, while U.S. WTI crude rose slightly, by 0.01%, to $101.77 per barrel.
The price of European TTF natural gas, for November delivery, fell 0.25% to 96.26 euros per megawatt-hour.
It should be noted that the fill rate of Europe’s natural gas storage facilities stands at 74.9%, down from the 85%–90% typically seen in previous years ahead of winter.
