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Europe gas

Europe's Energy Crisis

How a record spike in natural gas prices fuelled an inflation shock and reshaped the euro-zone economic outlook

The surge in natural gas prices triggered by Russia's invasion of Ukraine posed a formidable challenge to Europe's economy and its policy-makers. Prices have since fallen sharply, providing some relief, but are expected to remain well above pre-war levels in a still highly uncertain environment for markets and policymaking. Here you'll find our key coverage about what these price movements mean for Europe's economic outlook, for its energy strategy and for the European Central Bank.