Europe’s Energy Crisis Is Driving Up Natural Gas Prices Worldwide

Natural gas prices all over the world are surging amid a perfect storm of tight regional gas markets and soaring power prices in Europe. The natural gas rally isn’t over yet—and it has further room to hit fresh record highs, especially if the coming winter turns out to be colder than typical in the northern hemisphere. The natural gas crunch and the sky-is-the-limit rally in electricity prices are most evident in Europe. But the increased interdependence among regional gas markets in the U.S., Asia, and Europe in recent years now means…