Europe’s High Energy Prices Are Just The Beginning

European energy prices might be at record levels, but there is still room for prices to run, according to a Bloomberg analysis. Of course, natural gas prices are soaring everywhere—not just in Europe. The U.S. benchmark price for natural gas has nearly doubled over the last year, with front-month Henry Hub prices reaching $4.690/MMBtu as of September 6. And that’s despite record natural gas production in hot basins like Appalachia. But U.S. gas exports are soaring more, hitting all-time records. For Europe, which is coming off pandemic…