Commodities
Gas Prices Soar Past Oil, Europe's Winter Supply at Risk
Natural gas prices have surged to levels close to the oil price equivalent of $150 per barrel, outpacing crude's recent record high of $100 per barrel.
The sudden increase in September has left analysts worried about low levels of gas stocks in Europe and the potential for extended outages ahead of winter.
With governments wanting to maintain a sense of calm, forward prices for gas this winter remained flat relative to summer prices, providing no incentive for traders to buy and store gas for months.