bullish
The Commodity Report #84
SUMMARY
- What a year it was for European energy prices. Every time it gets emotional, prices behave volatile and sometimes also irrationally.
- That was the reason why we called for a peak in European energy prices already back in August of 2022.
- Back then, prices were astronomically high. Per BTU, you had to pay $93 for US crude oil, $500 for European TTF natgas, and meanwhile, “only” $54 for US Henry Hub natgas for the forward futures contract.
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