Gas markets leap on both sides of Atlantic as traders search for supplies

Financial Times/David Sheppard and Derek Brower/8-16-2022

engraving of family gathering wood for winter fuel

“The global energy crisis deepened on Tuesday as a further surge in natural gas prices in Europe and the US threatened to push some of the world’s largest economies into recession. Gas markets in Europe jumped by as much as 10 per cent.…”

USAGOLD note: This report blows a hole in the peak inflation theory. It could turn out to be a long winter. Germany is stockpiling firewood with many suppliers already out of stock. Wood stove manufacturers are having trouble keeping up with demand.

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