which is pretty sizable swing for a "stable" commodity

Do you like for me to talk about 10 hours on this topic, probably you don't; but I sure can...probably can manage 100 hours too with very little preparation.

Here is the rub! Politicians and Energy policy makers are completing misjudging the energy need of Europe (and the rest of the world). They are also ludicrously behind on how fast alternative sources of energy will going to step up to fill the need in northern Europe in particular. Shell and BP (perhaps even Total) is officially out of oil & gas game in 5 years time. Equinor is slightly different, but they are the last man standing in the entire European market, and they can't take the heat on their own.

You guys will still need to heat your home. Who will give you that gas? Yeah, the ex KGB guy :) He is playing this game for a very long time, and he will have you by the balls.