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BBG: Gas could be the next commodity trading below 0

BBG: Gas could be the next commodity trading below 0

21 July 2020

The gas storage capacity in Europe has reached a seasonal record of 73%, while the five-year average is 45%

Commented by a trader with many years of experience V. Vuldorfs:

«Unfortunately, for some, fortunately, European gas prices are at a minimum and the future is vague. With a greater degree of probability, the ubiquitous Americans could not do here, they were the most tough opponents of Gazprom’s European pipelines. Yes, and its American gas is being traded near the minimum levels, every month it mainly falls, and growth only happens due to a shift in the next month. Who loses – it is clear who, Russia and Qatar are the two largest producers of blue fuel. It is also noteworthy that domestic gas prices in Europe, in households, are in no hurry to decline afterwards, and all profits, as expected, are deposited in the good and reliable hands of intermediaries.»

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21 July 2020
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