Gas crunch eases in Europe — but the respite might not last
Natural gas and electricity prices in Europe have plunged from summer peaks thanks to mild weather and a months long scramble to fill gas storage ahead of winter and replace Russian supplies during the war in Ukraine.
It is a welcome respite after Russia slashed natural gas flows, triggering an energy crisis that has fueled record inflation and a looming recession.
Yet experts warn it’s too soon to exhale, even as European governments roll out relief packages for people struggling with high utility bills and work on longer-term ways to contain volatile gas and electricity prices that have shrunk household budgets and forced some businesses to shut down.
