U.S. Gas Prices Climb as Europe Scrambles for Supply ...Middle East

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U.S. Gas Prices Climb as Europe Scrambles for Supply
source : OILPRICE ( Middle East ) () 81
Dropping temperatures in the United States and Europe have prompted a rally in U.S. natural gas prices. Although somewhat hesitant, this rally could help avoid a shortage in the not-too-distant future. Winter is peak demand season for natural gas as demand for readily available, baseload electricity shoots up. This year has been no exception. In Europe, Germany’s gas consumption surged by 79% in November from October—the biggest monthly increase in consumption ever recorded, Reuters’ Gavin Maguire reported. Germany, as the rest…

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