'Russia Expects To Sell Gas To China At Half The Price For Europe; Average Pipe Gas Price To China Seen At $271.6 In 2024; Flows Via Power Of Siberia To China Linked To Oil Prices' - Bloomberg News
Portfolio Pulse from Benzinga Newsdesk
Russia plans to sell its pipeline natural gas to China at nearly half the price for Europe in the next three years. The gas price for China is expected to average $271.6 per 1,000 cubic meters next year, compared to an average of $481.7 for clients in Europe and Turkey.
September 08, 2023 | 5:55 pm
News sentiment analysis
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NEGATIVE IMPACT
The higher gas prices for Europe could potentially negatively impact the economy and the Vanguard FTSE Europe ETF (VGK).
The higher gas prices from Russia could potentially increase production costs for industries in Europe, leading to decreased profitability and economic growth. This could negatively impact the performance of the Vanguard FTSE Europe ETF (VGK), which tracks the performance of European equities.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The news may have a neutral impact on the SPDR S&P 500 ETF (SPY) as it is not directly related to the US market.
The news is primarily related to the energy markets in Russia, China, and Europe. While global energy prices can have an indirect impact on the US market, this specific news is not directly related to the US market and thus may not have a significant impact on the SPDR S&P 500 ETF (SPY).
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The news may have a neutral impact on the United States Oil Fund (USO) as it is related to gas prices, not oil prices.
The news is related to gas prices, not oil prices. Therefore, it may not have a significant impact on the United States Oil Fund (USO), which tracks the performance of oil prices.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
China's cheaper gas prices could potentially boost the economy and positively impact the iShares China Large-Cap ETF (FXI).
The reduced gas prices from Russia could potentially lower production costs for industries in China, leading to increased profitability and economic growth. This could positively impact the performance of the iShares China Large-Cap ETF (FXI), which tracks the performance of large-cap Chinese equities.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80