Europe Faces Fragile Energy Supplies This Winter

Europe Faces Fragile Energy Supplies This Winter

Europe is heading into winter with alarmingly fragile energy supplies due to conflicts in the Middle East and Russia. Natural gas and heating oil are Europe's primary sources of residential heating, with gas accounting for around 30% of household heating demand and oil accounting for roughly 10%. The conflicts have tightened global markets for liquefied natural gas and heating oil, pushing inventories to dangerously low levels.