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European Gas Drops 18% As US Sends LNG Flotilla

The news of the flotilla sent the benchmark Dutch front-month gas spiraling down 18% to 141 euros in Amsterdam, wiping out this week's gains. 

Plunging gas prices were a relief for European power customers. French power contracts tumbled 24% to 775 euros per megawatt-hour and German electricity fell 15% to 277 euros per megawatt-hour. 

The reason for the flotilla is that the European and U.S. natgas spread is the widest ever and well over a 15-year range. The hefty premium has made it worthwhile for commodity traders to take advantage of massive arbitrage opportunities. 



'Sapere aude'
by Oui (Oui) on Fri Dec 24th, 2021 at 05:57:23 PM EST

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