Commodities
Europe's Energy Crisis Spirals Amid Pipeline Sabotage and Policy Decisions
Europe's energy crisis deepened amid pipeline sabotage, policy decisions, and rising demand for energy due to hot weather. Germany's natural gas storage is low, posing a risk of shortages if winter turns out to be cold.
The continent plans to end Russian liquefied natural gas (LNG) imports by next year, increasing demand for U.S. LNG, although much of it may go to Asia due to Middle East supply disruptions.
In the United States, diesel prices are rising, especially in California, where a new pipeline project could ease fuel costs by 2029.