Global natural gas prices are set for another year of volatility, following 18 months of swings from record lows to record highs. As natural gas demand started to rebound this summer amid depleted stocks in Asia and Europe following a long and cold winter, prices skyrocketed in the autumn to record highs. This forced gas-intensive industries in Europe, such as steelmaking, fertilizer, and ammonia production, to curtail operations to reduce exposure to record-high input costs. While U.S. natural gas prices at the Henry Hub have plummeted in recent days due to forecasts of warmer winter weather, sinking below $4 per million British thermal units (MMBtu) early on Monday, prices in Europe and Asia are high and will depend on the winter conditions in those parts, and on Russia’s Gazprom in Europe. Europe is going into the winter with gas inventories at the lowest level in nearly a decade, while […]