Close price: Momentum in the markets is at rocket pace, on track to break all records once more. As the title simply puts. The world is desperate for more natural gas, more energy, more fuel, more oil. But it’s becoming harder to obtain. There is not enough to go around. Right now we are seeing record breaking valuations being set out across the curve.
Opening price: Prices are rising further still this morning, no doubt to record breaking values. The big question is how is Europe going to cope this winter? At normal consumption levels, forecasts predict little to no gas in storage exiting the winter, and that’s assuming no further disruption. There are many variables in play however, not least how cold the next winter will be.
Its now not out the question parts of Europe will see industries down tools, 4 day working weeks and other measures it might have to deploy to get through it during the winter months. The UK should be better off with diverse supply sources, but testing times lie ahead for all nations in energy security.