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👉 “Golden” gas: prices finish off those who survived after the pandemic ⠀
🚀 Since the beginning of the year, natural gas has more than doubled in price; a price rebound hit the US last week. For the first time since February 2014, Futures for the October delivery of gas condensate cost more than $5 per mmBTU, and experts expect a price of more than $10 - this is the level of the crisis of 2008.
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The situation is aggravated because storage facilities, especially European ones, are practically empty: a sharp drop in supplies with active demand in the process of the global economic recovery after the lockdown is reflected. US supplies still have not recovered from the hurricane - 77.3% of production in the Gulf of Mexico is still closed. Although American raw materials cost more than $20 for Europe and Asia, large Asian players are actively buying liquefied gas, which complicates restocking...
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In Europe, a lack of fuel will lead to higher winter heating bills and critical energy costs - the average consumer bill will rise by at least 25%. Electricity prices, for example, for Germany, on the European Energy Exchange (EEE) are already updating their all-time highs at €95 per MWh.
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The dynamics of reserves and the desire to catch speculative hype cause the growth of companies’ shares specializing in the production and processing of gas: EQT, Range Resources, Cabot Oil and Gas, Antero Resources, among ETFs the United States Natural Gas Fund is again popular.
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