Europe Gas Prices Break Records On Winter Crunch Fears

Natural gas prices in Europe inched closer to 300 euro per megawatt-hour as fears deepened about a looming supply crunch during peak demand season. Bloomberg reported today that benchmark gas futures on the continent hit $288.81 (291 euro) per MWh in morning trade, after closing yesterday at a record high. The report cited Energy Aspects analyst Leon Izbicki as saying the European price for gas could hit 400 euro per MWh in the gas flow via Nord Stream 1 stop next month. For now, Gazprom has said it would suspend flows for three days beginning…