Reply To: Into The Vortex – Natural Gas Outlook as Gazprom Threats and Ratchet Up

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European benchmark gas futures closed 15% higher, after earlier jumping as much as 35%.

Power also gave up some of its gains. Traders are weighing several factors, including higher gas stockpiles and the EU’s plans to intervene to control price surges. On top of that, gas demand is still relatively low before the heating season starts. “But of course as we approach the winter the lack of Nord Stream may be further reflected in prices,” said Jonathan Stern, a distinguished research fellow at the Oxford Institute for Energy Studies.