Europe’s self-inflicted energy crisis: Gas prices hit four-year high as war and policy collide
European natural gas prices hit a four-year high as the Iran war choked off liquefied natural gas shipments through the Strait of Hormuz.
EU gas storage stood at just 74.62% full on October 25, the lowest for the season since records began in 2011.
Europe has spent a record €7.28 billion on Russian Arctic liquefied natural gas this year despite vowing to quit Russian energy.
British households face a projected 27% jump in energy bills in January.
Germany’s Alternative for Germany party wants energy ties with Russia restored, following Trump’s example.
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