The Surge in Natural Gas Prices Is Equal to a $190 Oil Shock
This article is for subscribers only.
The deepening global energy crunch has pushed natural gas in Europe and Asia to the equivalent of about $190 a barrel, something the oil market has never seen.
Both regions saw fresh records in the heating and power-generation fuel this week as utilities rush to restock lower-than-average inventories ahead of winter in the northern hemisphere, while alternatives -- like coal -- are also in short supply.