Natural Gas News – November 9, 2021

Natural Gas News – November 9, 2021

Natural Gas Prices Soar As Putin Punks Europe

In late October, the market rejoiced and nat gas prices puked (even as we warned this was just the latest joke the Kremlin was playing at gullible Europe’s expense) after news that Russian President Vladimir Putin had asked Gazprom to “gradually” raise volumes to Europe starting November 8. So fast forwarding to November 8, i.e., today when not only is there no gas being shipped to Germany via Russia’s anchor Yamal pipeline as of today but there are there no signs the continent will get any relief any time soon, with Gazprom moments ago tightening the proverbial (and literal) squeeze on Europe’s gas supply. Today’s squeeze follows a supply shock on Sunday, when no extra capacity to send additional supplies to Europe was booked in auctions. That’s a disappointment for traders who had been counting on Gazprom to… For more info go to https://bit.ly/3DeMWhT

U.S. Consumers To Foot The Bill For Surge In Natural Gas Exports

U.S. consumers and utilities will be paying much higher prices for natural gas and energy this winter, as record American natural gas exports amid sluggish domestic production growth have raised prices for the fuel. The global natural gas supply crunch has impacted U.S. prices, too. But it has also drawn record volumes of gas exports out of America this year, leaving lower volumes for the domestic market, on which major natural gas producers are sticking to capital discipline to reward shareholders and are not rushing to raise output. As a result, utilities have started to warn customers they would be paying higher prices for heating and energy this winter. A total of 48 percent of U.S. homes will pay 30 percent higher bills for heating this winter, as 48 percent is the share of U.S. hous… For more info go to https://bit.ly/2YvlJrT