NRGO - U.S. weighs releasing emergency oil reserves to combat price surge

There's some wild swings going on in the energy market as traders seek to capitalize on shifting sentiments amid a global energy crisis. Yesterday, European benchmark TTF natural gas futures jumped as much as 40% to a record €162.125/MWhr - in the span of a few minutes - after closing 20% higher on Tuesday. But the rally didn't hold as Vladimir Putin chose a timely moment to leverage his country as an oil and gas superpower. Snapshot: The Russian leader proposed to stabilize the environment with an offer to export record volumes of vital fuel to the continent. The advance could pressure European officials and regulators into approving Nord Stream 2, a controversial pipeline linking Russia and Germany that is close to launching. Flows of Gazprom (OTCPK:OGZPY) gas to Europe have been analyzed by many energy traders as winter approaches, and the high prices there have spilled over to the U.S. Meanwhile, U.S. Energy

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U.S. weighs releasing emergency oil reserves to combat price surge