It is difficult to see how Europe can avoid an energy crisis this winter.

Gas and electricity prices continue to rise

In recent months, European economic data has consistently surprised to the upside, but an obstacle is looming on the horizon.

Natural gas prices are absolutely rising and continue to rise even today.

Energy prices are between 2 and 8% higher in Europe today and around 70% so far this year. se are record or near record prices everywhere and we are nowhere near peak winter demand. In the UK it is even worse with prices above £ 200 per MWh. re is even talk of base load prices of £ 354 compared to the 2010-2020 average of £ 45. png »title =» »class =» cms-png img-responsive »alt =» Gas and electricity prices continue to rise »/>

natural gas market is bleak, with TTF’s benchmark prices rising another 5% to a new record, after gaining 20% ​​since the beginning of the month.

se costs will undoubtedly affect consumer spending in the coming months. Furthermore, they are a serious political risk and I hope that we will see all kinds of interventions in the markets.

re is hope that Nord Stream 2 can stop the gas shortage, but with Russian stocks also in short supply and time is running out, I have a hard time seeing it.

Follow Javier Blas for more charts on how extreme this is getting. It almost feels like you’re sleepwalking in a crisis and no one even talks about it.

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