European benchmark futures for delivery in January 2022, when heating demand is expected to peak, have hit a record 66 euros per megawatt-hour, up from 16 euros a year ago.
European importers have been locked in competition with Asian buyers to attract extra liquefied natural gas cargoes, while pipeline deliveries from Russia have failed to respond. Storage rates have not been below 77% at this point of the year throughout the past decade, threatening the region with a gas shortage this winter.
In response, ultra-high prices will encourage electricity generators to minimise gas-firing and maximise other output to stretch gas stocks as much as possible. Since the middle of August, with mid-winter futures climbing above 35 and then 40 euros, the storage deficit has improved slightly, suggesting price-driven gas rationing is starting to work.
Damn Bidens controlling gas in Europe. Where does it end
good luck
👍👍👍
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Column: Democrats are ready to raise taxes, but not by nearly enoughTax increases being aired on Capitol Hill and coming from the White House won't do much to restore U.S. taxes to their historical level. Wow!!! Raise taxes instead of cut wasteful spending. The Pentagon, CIA and NSA could all take deep budget cuts. never enough
Source: latimes - 🏆 11. / 82 Read more »
Column: Win or lose, Larry Elder could bring about a new era of Black conservatismBlack Republicans are rare in California, but they hope the bombastic recall candidate will inspire more people of color to run for elected office. NOO ONN ELDER 👀 He’s black? He’s not conservative. He’s a trumper. Those are two very different things
Source: latimes - 🏆 11. / 82 Read more »
Column: Larry Elder joining the recall race was the best thing that could've happened to NewsomLarry Elder carried with him three decades of provocative right-wing rhetoric that Gov. Newsom turned into a scary wake-up alarm for snoozing Democrats, writes columnist George Skelton.
Source: latimes - 🏆 11. / 82 Read more »
Column: Should you believe the vaccine mandates will cause mass resignations? Probably not'There will be occasional inconveniences caused by resignations...But they’re likely to ebb as vaccine refusal becomes recognized as a fringe sentiment, which is what it is.' From columnist hiltzikm:
Source: latimes - 🏆 11. / 82 Read more »
Mike Richards’ First Episode as ‘Jeopardy!’ Host Makes No Mention of Scandal (Column)'No reference was made to the fact that Mike Richards as host was not what would always be — that, at the end of this week (and of what had been a single tape day), he would be ushered off the show’s stage for good,' DPD_ writes of Jeopardy
Source: Variety - 🏆 108. / 63 Read more »
With Natural Gas Prices Surging, America’s Frackers No Longer Need To Wish For A Cold WinterFor the first time in a long time, U.S. natural gas producers find themselves in a strong price position heading into the fall and not overly concerned about the direction of the weather to come.
Source: Forbes - 🏆 394. / 53 Read more »