In contrast, following Moscow's retaliatory gas cut-off to Europe, natural gas and electricity futures prices in Europe surged dramatically, skyrocketing to all-time highs. Those energy giants that had aggressively built up short positions in the futures market suffered disastrous losses without exception. Faced with the risk of "liquidation" if they failed to deposit massive margins, UR Group—the most low-key yet largest short-position holder among the energy giants—was pushed directly to the brink of bankruptcy.
Therefore, in Ye Chen's view, the absolute best time to buy the dip was right before Moscow's retaliatory gas cut-off.
It was just that there were still a few months before that gas cut-off to Europe took place, so there was no rush to make preparations just yet.
Chapter 574