shine trader limited reports:
Ed Morse, Head of Commodity Research at Citigroup, pointed out that if the winter is “really cold,” Europe may use up all of its natural gas and push up prices from unprecedentedly high levels.
Morse said in an interview that in the worst case scenario, as a way to balance the demand for heating and power generation fuels, European natural gas futures prices could more than triple, reaching US$100 per million British thermal units. He said that even if the winter is warm, it may be difficult for Europe to replenish its stocks, because imports are scarce and the main supplier, Russia, has very low stocks.
”If our weather is like six times in the past 30 years, Europe’s natural gas stocks will be exhausted,” Morse said.
Reprint indicated source：Spark Global Limited information