Europe's Energy Alarm Sounds: NatGas Stockpiles Draining, Prices Surge As Emergency Buffer Shrinks

Summary

Europe's Energy Alarm Sounds: NatGas Stockpiles Draining, Prices Surge As Emergency Buffer Shrinks European natural gas futures jumped for a third day as colder weather accelerated withdrawals from already dangerously low inventories that are well below seasonal norms across the energy-stricken continent . Dutch front-month futures traded 3.7% higher at 89.85 euros per megawatt-hour as new data from Gas Infrastructure Europe showed that withdrawals are outpacing year-earlier levels. Prices jumped to as much as 104.65 euros last week but quickly faded as the war risk premium in energy cratered…

Description from Zero Hedge.