Well, winter is not coming just yet, but round about this time last year, natural gas prices started to explode as speculators bet on a cold winter and insufficient gas supplies to Europe due to the sanctions against Russia. Nothing much has changed since then, and I would expect that this “winter trade” will again be played in coming months. But while nothing much has changed, some things did and these changes matter.
The EU still imports RU gas, about 5% of total:
https://www.politico.eu/article/ukraine-warns-it-wont-negotiate-new-russian-gas-transit-deal/
With for instance AU sill on a relatively firm RU diet:
https://www.linkedin.com/posts/anne-sophie-corbeau-8a758a4_russian-pipeline-gas-activity-7083065841344204800-XlGf/?utm_source=pocket_saves
Ok, thanks for the correction. Much appreciated.