European benchmark TTF natural gas pries have extended today's gain to 10.7% and that breaks the July 27 spike high. It's the most-expensive level since a brief spike on March 7-8 and will be the highest close ever.

Natural gas TTF Aug 15

This is an utter and ongoing calamity for the eurozone and increasingly reflected in the euro. The commodity currencies have recouped a bit of ground on the dollar on better risk appetite today but the euro is making new lows. It's now down 84 pips on the day at 1.0176.