European natural gas prices surged on Monday as the escalating conflict in the Middle East caused Qatar to stop LNG production at the world’s top plant.
I expect it’s going to get a lot worse in the coming weeks. It looks like a lot of energy producing infrastructure is being hit right now across the Middle East. Once the supply collapses, there’s really nowhere to fill the gap from. And even if Europe went to Russia to beg, it’s not a given that Russia would agree at this point.
I expect it’s going to get a lot worse in the coming weeks. It looks like a lot of energy producing infrastructure is being hit right now across the Middle East. Once the supply collapses, there’s really nowhere to fill the gap from. And even if Europe went to Russia to beg, it’s not a given that Russia would agree at this point.