2,8% is not exactly a plunge. There were bigger plunges on the occasion of me having indigestion. Prices are pretty low anyhow. But what’s going to happen is that many governments will start to clear some of the stalled economic shrinkages and pin it to COVID-19. Its a hell of an opportunity to expand debt making and forgo all pledges for balanced budgets. But don’t count on NG prices plunging much further. Germany alone needs lots of gas in order to balance the erratic flows from wind and sun.
Energy commodities plunged in Europe on concern that lockdowns stemming from the coronavirus outbreak are hurting the economy.