DETNF - Another day another European energy cost record shattered

European natural gas prices (Dutch TTF) traded up another 21% today, after setting an all time record yesterday. US hub gas prices (NG1:COM) are ~$4 / mmbtu; Euro gas prices are up ~$8 today alone. Euro consumers are now paying ~14x the price paid by US consumers, up over 1,000% year over year, and these gas prices feed directly into electricity prices, which are also up ~1,000% YoY across the continent. As discussed previously, the Euro energy market as been in crisis for most of the past month; however, the bad news keeps coming for European consumers. The Yamal gas pipeline from Russia, with capacity to meet ~6% of annual Euro gas demand, reversed flows and began sending gas back towards Russia from Germany today, in a move the Kremlin said was not political. Germany is on the eve of permanently shutting three nuclear plants (half the Country's fleet) by year

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Another day, another European energy cost record shattered