Wednesday marked another chaotic swing for global energy markets as prices in Europe slid from astronomical highs to finish lower on the day and liquefied natural gas (LNG) spot prices in Asia were assessed at a record of nearly $60/MMBtu. 

In Europe this week, wrangling has continued over how to best regulate the start-up of Nord Stream 2 (NS2), five nations called for an investigation into the natural gas market and European Energy Commissioner Kadri Simson said she would introduce reforms by the end of the year to stave off similar volatility in the future.

British and Dutch futures fell about $3 each day/day to settle near $37/MMBtu, but touched intraday highs of roughly $55 each. In Asia, Japan-Korea Marker prices for November were assessed at $56.326/MMBtu. Meanwhile, in...