Adding insult to injury? As Europe rejects Russian gas, prices for Henry Hub Natural Gas in the USA soar.
As Europe has shifted from complete reliance on cheap Russian Henry Hub Natural Gas to total dependence on expensive USA LNG, the news about the 'polar vortex' is undoubtedly a huge blow for Europe. The price of natural gas in the USA has risen by 4% in the past week, and prior analyses warned that Europe will face higher and more sustained gas prices in the future.
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