- December 22, 2021
- Posted by: Stratford Team
- Category: Economy
Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.
Europe’s gas price crunch is tightening, as the winter cold snap drives up demand and geopolitical tensions between Russia and the West heat up.
Wholesale gas prices for the UK and continental Europe have rocketed to all-time highs, intensifying the squeeze on suppliers and energy users.
The day-ahead price of UK gas hit 457p per therm on Tuesday, up 20% in a day, and around seven times higher than the start of this year.
The day-ahead price of UK natural gas Photograph: Refinitiv
The front-month wholesale Dutch gas price, the European benchmark, rose more than 16% to a record high of 171.40 euros ($193.46) per megawatt hour on Tuesday, while the equivalent British gas contract also…
