Markets
EUR/USD1.0842+0.32%
Gold2,341.50+0.85%
BTC/USD67,234-1.24%
S&P 5005,321.41+0.18%
GBP/USD1.2715-0.11%
Oil (WTI)78.42+1.05%
USD/JPY157.82+0.45%
Silver29.15+1.42%
EUR/USD1.0842+0.32%
Gold2,341.50+0.85%
BTC/USD67,234-1.24%
S&P 5005,321.41+0.18%
GBP/USD1.2715-0.11%
Oil (WTI)78.42+1.05%
USD/JPY157.82+0.45%
Silver29.15+1.42%

The Gazmageddon Thesis: How We Called the European Gas Crisis

When we coined the term 'Gazmageddon' in a July 2021 members-only report, European natural gas (TTF) was trading at roughly €25/MWh. By August 2022, the same contract touched €340/MWh — a 1,260% move.

The thesis was built on three pillars: depleted storage levels, geopolitical fragility in the Nord Stream corridor, and an over-reliance on Russian pipeline gas that the market systematically under-priced.

This article revisits the original analysis, tracks how the trade evolved, and distils the macro lessons that remain relevant for energy investors today.

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Risk Warning: Trading and investing in financial markets carries a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results. The content provided is for educational and informational purposes only and should not be construed as financial advice. Always conduct your own research and consult with a qualified financial advisor before making investment decisions.
The Gazmageddon Thesis: How We Called the European Gas Crisis