Oil Prices Climb As Another Storm Hits The Gulf Coast

Just as the Gulf Coast begins to recover from the destruction caused by Hurricane Ida, tropical storm Nicholas has now made landfall and is pushing oil prices higher on fears of more outages.Chart of the Week Creating an all-time high for the umpteenth time this year, Europe’s main gas benchmark, the Dutch TTF front-month, has surpassed the €60 per MWh threshold and is bound to increase even further. News that the commissioning of the Nord Stream 2 pipeline (which Russia’s gas giant Gazprom is presenting as the main solution to…