No limit

The markets in Europe are going ballistic when it comes to natural gas prices. Gas has now risen over 500 % in the last 12 months. Which is completely insane. Because all of this is due to worries, and not to real shortage on the markets. Today one MegaWatthour topped at 321,40 EUR, because of rumours of French nuclear power plants taking longer to get ready for launch and Nord Stream 1 maybe being closed more than 3 days. In mid summer! That’s it, this market is completely blown up by speculation and is far away from rationality.

Image AP

I predict this kind of behaviour going on for a while longer, and going higher for a few weeks more, until reason comes back and prices dive down to reality.

At least that should be happening, but even this I hadn’t expected to happen. It definitely shows how unreal markets are…

Sincerely,

Pele23