Gas Prices for Winter Cost 27% More as Europe's Supply Runs Low

Gas for August costs $2.76 per unit. Gas deliverable next winter costs $3.495 — 27% more. Europe's gas reserves hit a record low after war disrupted supply. U.S. exports are projected to climb from 9.5 to 10.0 billion cubic feet per day by 2027. Traders are pricing in winter risk; the real question is whether today's prices are too low.