In contrast, as Russia countered by cutting off gas supplies to Europe, the prices of natural gas and electricity futures surged dramatically, reaching historical highs. Energy giants that had heavily shorted the futures market suffered staggering losses without exception. Facing the risk of "liquidation" if they failed to deposit massive margins, the UR Group—the most low-key yet largest of the energy giants in terms of short positions—fell directly into a crisis of bankruptcy.
To Ye Chen, the period before Russia's counter-move to cut gas supplies was the best time to "buy the dip." However, since there were still several months before that, there was no need to rush into preparations.
For Ye Chen, what he needed to do right now was to win over Old Kane. By doing so, not only could he maximize the profits from buying the dip in European energy futures months later, but he could also force Old Kane to submit and serve his interests. This would be of extraordinary significance for his path of expanding beyond China and conquering the global business stage.
Chapter 574