Market forces have worked, reducing consumption and attracting record volumes of LNG to Europe. Inventories are now higher than expected, despite the recent cold snap. And the price goes down
by Sissi Bellomo
(EPA)
Europe reaches agreement on the price cap and the price of gas falls. But the decline – which has been going on for days – does not seem linked to the conclusion of the very difficult negotiations within the EU. Everything suggests that it was market forces that triggered the sales: those same forces that are now being harnessed with the imposition of a ceiling on price increases.
