Europe’s push to replace Russian oil and natural gas is causing a tanker shortage and may lead to Asian nations freezing this winter, Bloomberg reported on Monday. Liquefied natural gas, diesel and crude are now being transported to Europe from further away than usual, after the continent announced restrictions on energy imports from Russia. That…

Prices for natural gas in Europe surged on Wednesday after Russian energy giant Gazprom announced plans for further cuts to supply volumes via the Nord Stream pipeline. Futures on the Netherlands-based TTF trading hub climbed over $1,300 per 1,000 cubic meters, marking a surge of nearly 25%.

[unable to retrieve full-text content]