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Europe’s Gas Shortage Could See Rest of World Paying Larger Heating Bills This Winter: Experts

Europe’s record low supply of natural gas could see the rest of the world paying larger heating bills in an effort to stay warm this winter, experts warn. Natural gas prices have risen more than 35 percent in the past month amid lower supplies and a surge in demand as pandemic-hit economies around the world reopen, prompting fears that there is simply not enough gas stored up for the winter if temperatures were to be particularly cold in the northern hemisphere. Some experts are now pointing to Europe, where supply is at 16 percent below the five-year average, a record low for this time of year. John Kilduff, partner with Again Capital, told CNBC that “people are starting to throw the ‘crisis’ word around” when it comes to Europe. “Europe is squarely behind the eight ball going into the winter season. It’s going to put the focus on this commodity that’s been overlooked …

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