Ivan Radic
Gas shortages in Europe could force the entire world to pay more for gas supplies to keep warm as winter approaches. The amount of gas in storage in Europe and the U.S. is now below the average for the past five years, and the price of gas rose 35 percent in August, CNBC reported.
Natural gas is rising in price as investors worry about whether there is enough gas in storage for the winter. The amount of gas in storage at this time of year is now at an all-time low. Even in the U.S., the amount of gas in storage is 7.6 percent below the five-year average, according to the latest data from the U.S. Energy Information Administration. In the United States, natural gas is an important fuel for heating and provides about 35 percent of electricity generation.
Some analysts note that in an extreme scenario - if prolonged cold weather sets in - U.S. prices could double and fuel shortages in Europe could become severe.
source: cnbc.com
Natural gas is rising in price as investors worry about whether there is enough gas in storage for the winter. The amount of gas in storage at this time of year is now at an all-time low. Even in the U.S., the amount of gas in storage is 7.6 percent below the five-year average, according to the latest data from the U.S. Energy Information Administration. In the United States, natural gas is an important fuel for heating and provides about 35 percent of electricity generation.
Some analysts note that in an extreme scenario - if prolonged cold weather sets in - U.S. prices could double and fuel shortages in Europe could become severe.
source: cnbc.com