Europe’s natural gas prices have continued their sharp pullback across UK and European benchmarks as the continent has filled up its gas storage ahead of schedule. Benchmark Dutch front-month futures fell 6.7% on Monday while the UK Natural Gas Futures benchmark crashed 15.2 per cent to £2.43 per therm–a level well below all-time highs posted only a month ago. Gas prices have now eased 50% from record highs last month, thanks to Europe managing to successfully top off supplies ahead of winter while Russia has not meaningfully escalated the energy crisis since it cut off flows via the Nord Stream 1 pipeline a month ago. The plunge has brought some relief after a furious rally, though futures are still trading multiples higher than a year ago. Europe is on the brink of a recession, with inflation running at the highest in decades in several countries. European Governments have collectively […]