5.Energy prices increased dramatically on March 1st and 2nd. European natural-gas spot prices are now more than double their level at the start of February.
9.According to UxC, a consultancy, prices on the spot market have more than tripled from $30 a pound in January 2021 to a recent peak of over $100, the highest in 16 years.
10.Russia would not want to lose them altogether, if only because that would cause the global spot price to rocket, hurting friendly(ish) countries, such as India and Pakistan, which struggle to compete with Europe for cargoes.
11.The price difference between Brent forwards (the purchase of cargoes in advance) and futures (financial bets on the future spot price), which is positive in a healthy market, has returned to near usual levels, notes Mr Imsirovic.