Episode 1274: Think Tank: Europe chemicals could suffer elevated energy prices despite rising supply

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European chemical producers may have to keep paying high energy prices as geopolitical instability impacts sentiment more than the fundamentals of supply and demand.   -          Europe spot electricity prices up 76% this year, ICIS TTF gas price up 40%-          Fear drives markets more than fundamentals which remain bearish-          Demand is reduced compared to five-year average, supply plentiful-          Above average temperatures forecast into December in Europe-          Gas storage around 90%, well above 5-year average-          New sources of US, Qatari liquefied natural gas (LNG) due onstream in 2025-          Renewable energy will ramp up quickly in Europe-          Donald Trump may increase LNG supply by unfreezing projects