Europe’s Energy Crisis Isn’t Over, IEA Warns

Despite the much lower natural gas prices this summer compared to last year, Europe is not out of the woods yet. A cold winter and a full cut-off of still-flowing pipeline gas from Russia could trigger another period of market volatility and high prices ahead of and during the coming winter season, the International Energy Agency (IEA) warned in a report this week.  Europe’s benchmark natural gas prices are now 90% lower, at below $33.68 (30 euros) per megawatt-hour (MWh), compared to the record highs seen in August 2022. EU…