Soaring fuel costs threaten to send the continent's economies into recession European natural gas prices are trading at levels equivalent to about $70 per million British Thermal Unit (BTUs), which is roughly seven times higher than prices in the United States, CNN reported on Wednesday, citing Lipow Oil Associates. Analysts told the outlet that Europe's natural gas crisis is contributing to higher prices in America, noting however that it’s not the main driver. US natural gas prices have surged to levels unseen since 2008, closing at $9.33 per million BTU on Tuesday. “Higher global prices are trickling down to t
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