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Natural gas prices in Europe are again at record highs: close at record high

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Natural gas prices in Europe are again at record highs: close at record high

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A larger spread and an 11% gain in European benchmark TTF natural gas prices led to a record close today. Intraday, it was only exceeded by the savage compression of the spikes on October 6.

In November, it looked like natural gas prices in Europe were set for a blackout as Russian supplies resumed, but that turned out to be a false alarm and there are still delays to sanction Nord Stream 2. Since then , there was a double dip at $ 63 and prices doubled from there. This ensures that it will be a very expensive winter for European consumers, not only for heating but also for electricity.

European governments have responded with subsidies, which will prevent any destruction of demand.

The increase in gas and electricity adds to the inflationary mood that is developing in Europe. This could complicate the situation for the ECB in the coming months, especially if omicron hits supply chains.

Natural gas prices in Europe are again at record highs: close at record high

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