The following gives an idea of the sheer force of the inflation and developing shortages now striking as a result of the economic war on Russia combined with the “green” central banks’ pre-existing inflation waves.
The futures price for late March delivery of natural gas in Europe reached roughly €204 per MWh, equivalent to about $2,000 per thousand cubic meters and up 27% for the day. Russian supplies through the Ukraine pipelines were very low.
The West Texas international (WTI) oil price hit $115/barrel, up $20/barrel in a week—although Russian oil is being sold even below $100/barrel because of Wall Street and the City of London attempts to intimidate any company from buying it.
