How Long Will Europe’s Gas Crisis Last? Traders Have an Answer
- Forward prices have more than doubled over the past month
- Gas will be expensive in the summer, when demand is lower
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For a glimpse of how much longer this year’s energy crunch is going to last, look no further than the European natural gas market.
Forward prices have more than doubled over the past month, with traders betting the unprecedented squeeze will last into early 2023. Gas will be expensive even when the weather is hot. Prices for the summer exceeded 100 euros ($113) a megawatt-hour this week, the highest on record.