News
Natural gas surges to highest level since 2008 as Russia's war upends energy markets
U.S. natural gas prices surged to the highest level in more than 13 years Monday as Russia’s war on Ukraine causes a global energy crunch, and as forecasts called for cooler spring temperatures. Futures jumped more than 3% to trade as high as $7.
Related Knowledge Center: Energy security and pricing
State of Play
The United States achieved net energy independence in 2020, but that has not insulated the nation from the roiling of energy markets in the wake of the Russian invasion of Ukraine. Europe has been a large consumer of Russian natural gas, and the effort to wean itself, with the help of the United States, has strained markets and endangered global efforts to address the climate crisis.