European natural Gas prices are heading to 0!
That turned around quickly
A few months after the natural Gas prices peaked to almost 400 EUR, the price dipped back down to below 100 EUR. And the predictions are quite surprising for the next few weeks. Natural Gas could be going to 0 EUR or even lower. How about that!
The war in Ukraine has spiked up the natural Gas price in Europe immensely, with huge consequences for inflation in the European continent. But, the reaction of the people, by saving in heating and hot water, and the import of Liquid Natural Gas from over the ocean, USA, Qatar, etc... and the fact that the month of October is extremely warm in Europe have had big consequences for the price of Gas. Almost all supplies are filled, there is no more storage room left anymore in most countries of the EU. And hundreds of boats waiting with their filled tanks in harbours and the ocean in front of the coast of Europe will have a weird impact on the price of natural Gas. There will be an over supply in the coming weeks. As the prediction for the next two weeks is once again, weather with temperatures above 20 degrees Celsius, the demand for Gas will drop even more, and there comes the over supply shock. The price of Gas will plummit to 0.
It sounds incredible, but it is bound to happen. The mentality switch that most Europeans have made the last few months is creating a climate in which a lot less Gas is used for heating, cooking and hot water. And that mentality switch is here to stay. As the uncertainty about heavy contracts is still slumbering in the air. This creates a situation, in which the people subconciously take back the power. As they are responsible for the drop in demand, and the over supply is the responsibility of the governments. People will eventually pay almost nothing for their Gas. Which is amazing.
It shows that when things get tough, people take charge of the situation, if the governments don't. That is an evolution I really like. And it will happen more and more in the future!
Sincerely,
Pele23
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Interesting information, I dont use gas in my home, but any news about the electricity prices in the span of 2-3 years?
You where also talking about that there could be deflation next year? HAHA what a clowm-world we live in, go all cryptocurrency folks!
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You are quite right and hopefully, Europe can benefit from that in order to balance the higher prices paid. My thought is to see humanity move towards better energy like Hydron based, solar, wind and new technologies as well.
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First of all, being less dependent of gas from Russia alone is already a good thing
I love that. I would also love it if diesel would follow suit.