Prices rocketed up yesterday, again nothing to do with fundamentals, but fears and speculation surrounding the developments between Russia and Ukraine. The U.S took the opportunity to warn Russia of the implications and sanctions, should they proceed in continuing to build its forces at the Ukrainian border. The markets fear imposed sanctions could involve Nord Stream 2 which the U.S could place pressure on Germany to impose. Russia has claimed it has no intentions to invade, but has accused the US of expanding its own military infrastructure into Ukraine and other Russian bordering countries, which Russia deems as threatening. Unless things settle, Natural gas will likely be used and restricted as a political tool from both sides, which is the last thing you would want in an energy crunch already at the height of Winter.
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