[BeauBo]

Oil prices were up last week after OPEC+ announced a large 2 million barrels per day reduction in their production quotas (1 million bpd in actual reduced production (mostly from Saudi Arabia), and elimination of unused quotas for the rest, mostly from Russia). WTI (American oil) was around $92 today, and Brent (European oil) around $97, up around 15% since the announcement last week. Analysts are guessing that OPEC+ seeks to defend a $90 price, which would be good for Russia (unless price cap plans for Russia prove effective).

But natural gas seems to be well over the hump of the war shock, and Europe transitioning away from Russian supply. Hungary is the only EU Nation still currently accepting natural gas from Russia - far ahead of the planned transition schedule, due to Russian cutoffs, and pipeline problems.

[NorseViking]

Who cares if it is unavailable anyway.

[budj]

"...per megawatt-hour ..."

Problem - natural gas is priced by volume, typically per thousands of cubic feet. "Megawatt hour" is a measure of electricity.

Credibility is destroyed.

[Yo-Yo]

I’ve never seen natural gas measured in “megawatt-hours” before. Electricity, yes, but natural gas, no.

[DannyTN]

European Union Natural Gas Import Price 59.10 USD/MMBtu for Sep 2022

59 Down from 70. But still high from Jan 22 pre war of 38.

[Cronos]

We’re also going to wear sweaters and use less gas. Get Putin out of Ukraine

[The Great RJ]

Winter is still coming…. see how the Europeans are doing in January. My prediction is that many will be shivering in the dark.

[Tijeras_Slim]

I wonder how long that bad boy could keep my grill going.