the war did a little for temporary spiking prices, but has almost nothing to do with the price before (very high), and the price now (reasonably high). To say that the war had nothing to do with the high prices is more true than saying the war is currently keeping oil/gas/coal prices high, or, as politicians in australia like to say, putin is causing our electricity prices to rise.
You could argue that the war is currently keeping coal prices down, because, people madly stocked up due to the war (spike to 400), and now have too much in their stockpile (depressing prices). I do think that the US blowing up nordstream has much more impact on coal prices than the war itself.
I think on balance, to say that the war has very little to do with elevated fossil fuel prices, is correct. I also think on balance to say the war has almost zero to do with Australia's high electricity prices, is also correct
Regarding spruiking 250/300 is the new norm, probably wrong but who knows. the JRP was $400 for one whole year, and now $200 for the next year. Thats 300 over two years. Lets see what happens next year.
NHC Price at posting:
$4.86 Sentiment: Buy Disclosure: Held
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