Gas, the price continues to fall but it is not enough

Gas, the price continues to fall but it is not enough


The price of gas is still falling. According to data from the Title Transfer Facility (Ttf) in Amsterdam - the European reference market for gas prices - the opening price on Monday 10 October was 145 euros per megawatt hour, down 7.2% compared to at closing on Friday.

The trend

The price of gas has been falling for several weeks, after the price had broken through 300 euros per megawatt hour during the last week of August. first time in history, even reaching close to 350 on 26 August. Behind that surge was the announcement by the Russian state energy company Gazprom of a three-day closure of the Nord Stream gas pipeline - the main energy link between Russia and Europe - which it was feared would be longer. Since then, the price of gas has steadily decreased, probably because the perception of investors is that, even in the event of a blockade of supplies by Russia, Europe is increasingly able to resist.

On the one hand, the rationing and storage plans implemented by European governments are minimizing European dependence on Russian gas. On the other hand, the prospect of a ceiling on the price of European gas which is becoming increasingly concrete in these hours is reassuring the markets.

This is still a very high price. A year ago - when the energy crisis had already begun - the price of gas on the Ttf was close to 100 euros per megawatt hour. In 2020, 2019 and 2018, the average monthly price for the month of October had instead been, respectively, 15, 11 and 26 euros.

The European “price cap”

For months there has been discussions about putting a ceiling on the price of gas at the European level. In essence, it means setting an upper limit on the price of Russian gas beyond which countries adopting this measure will not buy the gas. For the measure to be effective, it is necessary for all EU countries to participate, which is also the reason why the proposal has been under discussion for months but no concrete progress seems to have been made yet. For example, among the most reluctant member states is Germany - the only country in the Union that was more dependent on Russian gas than Italy before the war in Ukraine - which fears the response of the Kremlin. However, it seems that a proposal from Italy on a dynamic price cap is taking shape, which provides for the setting of a "central value" to be reviewed regularly based on market variables. A solution that the European Commissioner for Economy Paolo Gentiloni has defined as "sophisticated".

Shocking CCTV of Gas Station Robbery Released by LAPD as Suspects Arrested

CCTV footage from an Los Angeles gas station robbery - the incident took place at a gas station located at the 5500 block of White Oak Drive on September 4. © Los Angeles Police Department CCTV footage from an Los Angeles gas station robbery - the incident took place at a gas station located at the 5500 block of White Oak Drive on September 4.

The Los Angeles Police Department (LAPD) has released alarming CCTV footage from a robbery at a gas station earlier this month.

It was filmed outside a gas station in the 5500 block of White Oak Drive in Los Angeles on September 4.

The video was released following the arrest of two suspects in connection with a series of follow-home robberies in the Los Angeles area.

According to the LAPD, Clayton Randolph, 34, and Shanika Davidson, 35, were arrested on September 15, 2022, for their alleged involvement in a string of robberies throughout the city.

Randolph and Davidson both reside in the Wilmington area of Los Angeles. A subsequent search warrant uncovered two handguns, jewelry and other items linking the pair to the robberies.

Randolph was booked on six counts of robbery, with officials confirming the District Attorney's office subsequently filed a total of 12 charges against the suspect, including attempted murder, robbery and possession of a handgun.

Randolph's bail was set at $2,280,000. He remains in custody awaiting court proceedings. Davidson, meanwhile, was booked on one count of robbery and was later released on bail of $50,000.

Following the arrests, police released the surveillance footage of the gas station robbery allegedly involving Randolph and another unidentified suspect.

In the video, a man in a white t-shirt can be seen leaving the gas station with a black vehicle parked close by. He is immediately accosted by an individual in a black sweater and baseball cap. A struggle ensues with the two men shown falling to the ground, grappling with one another.

The tussle only ends when another man dressed in dark clothing intervenes. The three men exchange words before the man in the white t-shirt breaks free of the original assailant's grip and tries to get into the backseat of the nearby black car.

At this point, the man who intervened during the original scuffle dashes off. The man in the baseball cap is then seen seemingly dragging the man in white from the car. A woman in a pink dress is also seen exiting the vehicle at this point. The two men continue to tussle outside the gas station before the man in the white-t-shirt breaks off and runs out of shot.

LAPD robbery homicide detectives believe Randolph may be wanted in connection with other robberies in the Los Angeles area. They called on anyone with information related to the gas station robbery or any other follow-home robberies to contact the LAPD.

They are urged to call Robbery Homicide Division's detective Dara Brown at (213) 486-6840. During non-business hours, or on weekends, calls should be directed to 1-877-LAPD-24-7 (877-527-3247).

Anyone wishing to remain anonymous should call the LA Regional Crime Stoppers at 1-800-222-TIPS (800-222-8477) or go directly to Tipsters may also visit, and click on 'Anonymous Web Tips' under the 'Get Involved-Crime Stoppers' menu to submit an online tip. They can also download the 'P3 Tips' mobile application and select the LA Regional Crime Stoppers as their local program.

Newsweek has contacted the LAPD for comment.

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