Fear Grips Global Gas Market Facing Winter Supply Threats
- Risks such as Israel-Hamas conflict lifted Europe, Asia prices
- Though gas stocks are high ahead of Northern Hemisphere winter
An oil storage tank at an oil and gas field in Algyo, Hungary.
Photographer: Janos Kummer/Getty ImagesThis article is for subscribers only.
Mounting threats to gas supply are sending most global fuel prices higher as fear takes hold of the market just ahead of the first signs of winter.
Natural gas in Asia and Europe jumped this week, with the latter surging to the highest level in eight months, driven by the Israel-Hamas war, potential strikes at key export plants and infrastructure vulnerabilities, including a leak in a Baltic Sea pipeline where sabotage is suspected.