Zero Hedge: European NatGas Soars 70% In Week Amid Freeport Delays And Russian Cuts
A combination of factors this week and last have put a massive squeeze on crucial natural gas flows to Europe, sending prices sky-high.
Dutch front-month NatGas futures, the European benchmark, jumped as much as 24% Thursday morning, adding to the 46% increase this week and last. Flow reductions began last Wednesday when an explosion rocked the Freeport LNG Terminal in Quintana, Texas. Most LNG exports from that facility end up in Europe as the continent weens off Russian supplies.
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WNU Editor: The Russian foreign ministry is very blunt on what is going to happen .... Russia warns of potential gas 'disaster' for Germany (RT).
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