[ZERO] By now readers are well aware that Europe is suffering from a historic gas crisis, one which according to Rabobank is now even more extreme than the US oil price shock.
And unfortunately for Europe's population, with every passing day - and to a lesser extent hedge funds such as Statar Capital which suffered a big loss in the past few days - it's only getting worse. As Bloomberg's Javier Blas notes today, both UK NBP and Dutch TTF natural gas benchmarks have closed the day at their highest ever settlement level, up ~11% on the day (to a closing price equal to more than $26 per mBtu). |