Natural Gas News – March 8, 2022
Natural Gas News – March 8, 2022
U.S. natgas falls over 3% on lower demand forecasts
Europe may have dodged the bullet of gas outages for this winter, but surging prices for natural gas in Europe is quickly becoming a worrisome signal for the EU economy. The front month gas price at the Dutch TTF hub, the benchmark gas price for Europe, has doubled just this week alone, and now sits at $204.32 per MWh as Russian gas supply fears continue to grip the market. On Thursday, prices were trading at $221 per MWh, which was a new all-time high. The higher prices come not only as Russia invades Ukraine, but after reports that the flow of Russian gas through the Yamal pipeline had stopped, and as pressures mount on world governments to cease all energy trading with Moscow in light of the invasion. For Europe, who has lived through a year of high energy prices, the new heights… For more info go to https://bit.ly/3MAZXHB
Gas supply concerns in Europe put US at center stage
These are pretty scary times for the world right now as Russia continues its war with Ukraine, sending oil prices to shocking levels. The price for a barrel of oil jumped to over $118 on Thursday, the highest level since 2014. So far this year, Brent-crude futures are u 43%, compared to the Dow Jones Industrial Average’s, the S&P 500’s and the NASDAQ’s 8%, 10% and 19% respective fall over the same timeframe. Russia is one of the world’s largest oil and gas exporters, but refiners and traders around the world have stopped buying Russian oil, despite the fact that the U.S. government and its allies in NATO haven’t blocked Russian oil sales yet. Still, only about 10% of Russia’s oil exports have been impacted, according to Reuters. In President Biden’s State of the Union address on Wednesday, he announced the U.S. wo… For more info go to https://bit.ly/3MvM0KR
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