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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts

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To: Fiscally Conservative who wrote (73106)10/27/2022 7:22:11 PM
From: Sun Tzu1 Recommendation

Recommended By
ajtj99

   of 97984
 
Also FYI, this is the reason why I didn't (and still don't) feel comfortable holding a big natgas position overnight.

Europe now has so much natural gas that prices just dipped below zero

By Anna Cooban, CNN Business

Updated 10:03 AM EDT, Wed October 26, 2022



London(CNN Business)Europe has more natural gas than it knows what to do with. So much, in fact, that spot prices briefly went negative earlier this week.

For months, officials have warned of an energy crisis this winter as Russia — once the region's biggest supplier of natural gas — slashed supplies in retaliation for sanctions Europe imposed over its invasion of Ukraine.

Now, EU gas storage facilities are close to full, tankers carrying liquefied natural gas (LNG) are lining up at ports, unable to unload their cargoes, and prices are tumbling.
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