US NatGas Hits 14-Year-High, EU Benchmarks Explode Higher

• US NatGas Hits 14-Year-High, EU Benchmarks Explode Higher
  by Tyler Durden, https://www.zerohedge.com/
  US natural gas futures surged to a new 14-year high this morning as European prices spiked on Russia’s move to shut a major pipeline (for “planned maintenance”), sparking increased fears that demand for American exports of the heating and power-plant fuel will soar when Freeport’s LNG Terminal comes back online in October.
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  Additionally, the next few months of the US NatGas curve are in contango with November 2022, December 2022, and January 2023 all traded above $10 this morning…
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  In Europe, benchmark gas futures rose as much as 20% to new record highs…
  …driving electricity prices to fresh records, topping EUR700/mWh for the first time ever…
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  read more.

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