Gas prices skyrocket globally as energy crisis is getting worsening

In spring 2020, roads and airports were almost closed or empty due to the COVID19 pandemic, which push the cost of energy down and was much cheaper. But demand for energy has come back as the world economy is reopening. Natural gas prices have skyrocketed so much, especially in Europe and Asia. Citigroup on Monday update its Brent oil forecast to USD 85 a barrel for the fourth quarter and said crude will likely hit USD 90 at times. Chinese coal prices have hit record highs amid flooding in northern China that forced the closure of dozens of coal mines.