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The big turnaround: how Europe's gas prices fell from €300 to €35 MWh in the span of a year (www.euronews.com)

submitted 1 year ago by [email protected] to c/[email protected]

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cross-posted from: https://lemmy.zip/post/2073007

Archived version: https://archive.ph/UhQac
Archived version: https://web.archive.org/web/20230829230925/https://www.euronews.com/my-europe/2023/08/28/the-big-turnaround-how-europes-gas-prices-fell-from-300-to-35-mwh-in-the-span-of-a-year

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[–] [email protected] 4 points 1 year ago (1 children)

From what I understand (I may be understanding little), Saudis responded opposite the western requests and seemingly in coordination with Russia cut output, and have been cutting output. Driving up energy prices and overall inflation. There seems to be some power play happening between the Saudis and Biden if I am reading the news correctly.

[–] [email protected] 3 points 1 year ago

Yes, there's an oil war going on between the US and Saudis + Russia.