European gas prices are flashing red again. LNG futures touched 62 euros, or about 70 dollars, per megawatt-hour on July 22nd, the highest since the Iran-Israel conflict rattled markets earlier this year. It is up nearly 50 percent from June's 40-42 euros range. The reason isn't a new supply shock. It's a bidding war Europe is losing.

Europe Loses LNG Bidding War to Asia | World Business Watch 

Workers in the United States, United Kingdom, and Europe are getting poorer even though they are getting paid more. That is the harsh reality of a new wage crisis hitting developed nations.

Workers Earn More but Can Afford a Lot Less

Asia’s economic outlook is facing a growing risk from the ongoing negotiations in West Asia. According to the International Monetary Fund, the region is more vulnerable to an energy shock than others due to its heavy reliance on fuel imports from the Gulf.

Asia Faces High Risk From Energy Shock: IMF Warns Asia Most Exposed

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