The threat of a natural gas supply squeeze in Europe is growing after a key price spread reversed, signaling that the region’s current glut will disappear as more cargoes head to Asia. Liquefied natural gas futures in Asia are trading at the highest premium to European prices since January after the spread went positive last week for the first time in almost three months. Though Europe averted a severe gas shortage last winter, the discount to Asia for its cargoes could worsen the region’s still-fragile supply situation in the wake of Russia’s invasion of Ukraine. JKM futures, the benchmark for prices in Asia, are ... (full story)