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Europe's energy crisis is forcing up the price of U.S. natural gas

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Europe's natural gas crisis is spilling into American markets.

U.S. natural gas prices briefly hurdled $10 per million British thermal units on Tuesday, the highest since 2008. They are up more than 150% this year.

The move comes amid an astounding rise in European natural gas prices, as a once-unthinkable cessation of Russian supplies toEuropean natural gas costs are more than 10 times higher than last year's level, putting immense pressure on companies, consumers and governments.High prices in Europe are also affecting the U.S. market, and will almost certainly push electric and heating bills higher.

 

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