Soaring European Energy Prices Could Send The Commodity Boom Into Overdrive

Record breaking natural gas and electricity prices in Europe could be the harbinger of increased volatility in global commodity markets, according to Goldman Sachs. “European energy pricing dynamics offer a glimpse of what is in store for other commodity markets, with widening deficits and depleting inventories leading to elevated price volatility,” the investment bank’s analysts wrote in a new report carried by Bloomberg. Depleted natural gas inventories and low wind speeds have led to a surge in electricity prices across Europe,…