Energy Crisis In Europe Worsens As Natural Gas Prices Double In A Week

Europe may have dodged the bullet of gas outages for this winter, but surging prices for natural gas in Europe is quickly becoming a worrisome signal for the EU economy. The front month gas price at the Dutch TTF hub, the benchmark gas price for Europe, has doubled just this week alone, and now sits at $204.32 per MWh as Russian gas supply fears continue to grip the market. On Thursday, prices were trading at $221 per MWh, which was a new all-time high. The higher prices come not only as Russia invades Ukraine, but after reports that the flow of…