Hungry for fuel, China looks to the U.S., Europe eyes relief plans – Reuters

Hungry for fuel, China looks to the U.S., Europe eyes relief plans – Reuters

Oct 15 (Reuters) - China's energy crisis deepened on Friday with coal prices hitting a record high as cold weather sweeps in and soaring gas prices prompting major energy companies to seek long-term deals with U.S. suppliers, sources told Reuters.

Energy security has shot to the top of government agendas in Asia and Europe as shortages of coal and rocketing gas prices have triggered power outages and choked up factories supplying big name brands such as Apple , just as the global economy reawakens from coronavirus restrictions.

To shield consumers from soaring prices as winter approaches, European Union leaders look set to greenlight emergency measures by member states including price caps and subsidies, at a summit next week. read more