Heatwaves across the globe have weighed on natural gas supplies. Countries are bracing for natural gas shortages this winter. Natural gas prices across the globe are soaring, with European prices now trading at what would be an equivalent of $410 per barrel of crude oil. Heatwaves this summer and expected natural gas shortages this winter are driving gas prices higher and higher. Europe’s benchmark gas prices surged by 14% in just three days to a fresh record-high, continuing the upward trend from recent weeks, as gas demand for power generation is high amid heatwaves and Russian pipeline supply remains at low levels, while the EU scrambles to fill gas storage ahead of the winter that would see energy and gas rationing, industries shutting down production, and households paying sky-high prices for heating and electricity. Europe is in the most precarious position, but natural gas prices are rallying in the […]