Europe is now stuck with a huge stockpile of natural gas after hoarding it last year for a brutal wi
Europe got lucky — it managed to avert an energy crisis, all thanks to a warm winter.
But it has another problem. Countries in the region hoarded so much natural gas at higher prices that it's now stuck with stockpiles of the fuel that have depreciated in market value.
For example, benchmark Dutch natural gas futures have fallen nearly 28% this year so far to around 53 euros, or $57, per megawatt-hour. The Dutch natural gas futures are also 85% lower than a record high of €349 per megawatt hour in August.
The price spike had been driven by fears that Europe would be caught in a brutal winter as Russia — a key supplier — would continue cutting piped gas flows to the continent in retaliation to Western sanctions over the invasion of Ukraine.
https://www.msn.com/en-us/money/markets/europe-is-now-stuck-with-a-huge-stockpile-of-natural-gas-after-hoarding-it-last-year-for-a-brutal-winter-that-never-came/ar-AA17vmHr
= new reply since forum marked as read
