According to zerohedge On an oil-barrel-equivalent basis, US NatGas is trading at around a $40 discount to WTI Crude (the 'cheapest' since 2013)... 1/10 of Europe's gas price in August 2022
Heatwaves across the globe have weighed on natural gas supplies.Natural gas prices across the globe are soaring, with European prices now trading at what would be an equivalent of $410 per barrel of crude oil.Heatwaves this summer and expected natural gas shortages this winter are driving gas prices higher and higher.
Europe is in the most precarious position, but natural gas prices are rallying in the United States and Asia, too. Gas demand for power is high, and production is flat in America, while major Asian buyers are back on the LNG market to secure supplies for the winter.
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