A commodities trader with 25 years pointed out to me the natural gas anomaly in Europe. Normally the Q4/Q1 spread is below zero due to seasonality and storage owners putting gas into storage & withdrawing at profit(left chart). Notice what happened in Aug/Sep of 21 👇
after Merkel visited Biden (rt chart). Speculators playing mean reversion got killed as there was a mysterious unlimited capital bid. IMHO it would take a CB to do this so I speculate this was a planned war in Ukraine going back to summer of 21 & was known by big players.
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