Europe’s Gas Crisis Isn’t Over Despite Full Storage

A year ago, European politicians declared the gas crisis from the near-complete halt of Russian supplies was over. The EU had turned to alternative natural gas suppliers, assuring there would be enough to prevent shortages and steep prices. These assurances now appear premature. Last week, European benchmark gas prices hit the highest in a year on the news of a production outage in Norway. On Friday, the Dutch Title Transfer Facility hit 43.68 euros per MWh, which was the highest since December 2023. It seems the future holds more price spikes—because...