U.S. natural-gas producers and global commodity traders are emerging as some of the biggest beneficiaries of the surging energy prices spreading pain in Europe.
Falling supplies from Russia to Europe, as well as the threat of a Russian invasion of Ukraine, have elevated prices of the coveted fuel used to heat homes and generate electricity. The rally has burned European utilities including Électricité de France SA and Germany’s Uniper SE and put dozens of British energy suppliers out of business. It is also leading to substantially higher bills for consumers, creating headaches for governments across the continent.
