Handelsblatt47 minutes agoBusiness1 min readGermany

Dax under pressure: Oil prices and gas prices are weighing on the German stock market

Quick Look

The Dax is struggling with the 26,000 point mark, while rising oil and gas prices cause uncertainty.
While the Brent oil price temporarily rose above $99, the European gas price reached its highest level since the beginning of the war at 75 euros.

AI-generated summary

Why It Matters

The Dax is under the influence of rising raw material prices. Energy prices for oil and gas have reached significant levels not seen since the beginning of the war.

Font size

Frankfurt. The slight upward trend on the German stock market has stopped for the time being. The DAX came under pressure again in morning trading on Tuesday and fell below the 26,000 point mark. As the trend continues, the leading German index makes up for its losses and continues to trade at the round level.

The Dax had already lost marginally on Monday. Since there was no trading in the USA due to a public holiday, the trading volume was at an extremely low level. The indices on Wall Street also recorded losses on Tuesday.

Continuing rising oil prices are causing uncertainty in the market. A barrel of North Sea Brent rose to over $99 at times. Brent was last above the $100 mark at the end of May. The price of WTI oil is two percent higher at $94.50.

European gas is also significantly more expensive. According to the TTF contract, the price for one megawatt hour for delivery in October increases by a further 2.5 percent to now 75 euros. This is the highest level since the outbreak of war. For comparison: a month ago the price was 52 euros.

Open Questions