UK natural gas reaches highest ever price

UK natural gas reaches highest ever price

European energy prices soared to fresh records amid worsening fears over supply, with UK natural gas futures exceeding the threshold of 300 pence a therm for the first time ever.

Global fuel shortages are disrupting natural gas markets from the UK to China, as economies emerge from the pandemic.

Surging costs are threatening to raise inflation and starting to weigh on industrial production, with some companies in Europe forced to cut output. Concerns over gas storage levels in Europe are building as winter approaches, helping drive prices ever higher.