Joe Wallace, Wall Street Journal, has a nice piece on energy prices in Europe, here…
”Cold-weather forecasts launched natural-gas prices to record highs this week and propelled electricity markets to levels rarely experienced in Germany, France and the U.K.
The chances of a gusher of Russian gas arriving to swell depleted supplies by spring, meanwhile, are fading, after Moscow massed troops on its western flank. U.S. officials say the deployment could pave the way for an invasion of Ukraine in early 2022.
Benchmark European gas prices are more than seven times as high as a year ago at 127.77 euros ($144) a megawatt-hour, having jumped by more than a quarter over the past week. In a sign that traders expect the shortfall to last for months, prices for contracts that expire deep into 2022 have shot up alongside those that require imminent delivery of gas.”
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