As the energy crisis worsens, gas prices in Europe hit a record high

As the energy crisis worsens, gas prices in Europe hit a record high
As the energy crisis worsens, gas prices in Europe hit a record high

The price of European gas rose to a record today, reaching 100 euros per megawatt-hour, as China escalated a global battle for energy supplies, in a move that threatened to derail the economic recovery, and then prices quickly fell.
In choppy trading, benchmark futures were up as much as 2.3% today before pulling back, Bloomberg said.
China has ordered its state-owned energy companies to secure supplies for this winter at all costs.
This will intensify the battle for LNG and coal shipments just as flows to Germany via a major Russian pipeline have faltered.
Energy prices have risen from the United States to Europe and Asia as the economy recovers from the global pandemic and returns to work.
Europe is struggling to secure enough gas and coal before winter, and with rising prices, some of the giant industrial companies that produce fertilizers and chemicals have been forced to close or reduce production.

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energy crisis worsens gas prices Europe hit record high

 
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