UK Gas Prices Break Records As Europe’s Energy Crisis Worsens

UK gas prices surged to an all-time high of 350p per therm on Thursday, up 520 percent year-to-date amid soaring demand and continued supply concerns across the continent this winter. While prices dropped to 320p per therm on the UK Natural Gas Futures on Friday morning, the benchmark remains ahead of Asia’s liquefied natural gas. Nathan Piper, head of oil and gas research at Investec anticipated that gas prices would remain high as economies recover from the pandemic. He said: “We believe there is a high likelihood of both prolonged…