Your Evening Briefing: Energy Crisis Increasingly Includes Oil

The energy crisis keeps getting worse. Shortages of natural gas in Europe and Asia are boosting demand for oil, deepening what was already a sizable supply deficit in crude markets, according to the International Energy Agency. “An acute shortage of natural gas, LNG and coal supplies stemming from the gathering global economic recovery has sparked a precipitous run-up in prices for energy supplies and is triggering a massive switch to oil products,” the IEA warned. —David E. Rovella

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