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Europe reversed flows on a Russian gas pipeline link to draw on storage, adding to the price surge. The benchmark European gas price reached an all-time high above 180 euros per megawatt hour in the prior week, versus about 19 euros at the start of 2021.
Record European gas prices raise energy and nitrogen fertilizer production costs, supporting higher prices for feed inputs and grains.
reuters.comVladimir SoldatkinDec 30, 2021After 136 past bullish geopolitics events, Natural Gas moved a median +2.7% over 5 sessions (63% higher; middle half -1.8% to +8.8%), and +4.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
