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flag UK and European energy prices dropped sharply due to global LNG and oil surplus, narrowing the cost gap with the U.S.

flag Energy prices in the UK and Europe have dropped sharply, with wholesale gas prices nearly halving since last winter due to a global surplus of LNG and oil, narrowing the industrial competitiveness gap with the U.S. flag Despite the U.S. being the top LNG exporter, domestic gas prices have surged 50% since August, raising cost-of-living concerns. flag Global oversupply—projected at 5.7 million barrels of oil per day—threatens to erode America’s energy advantage as price arbitrage closes the gap. flag Europe benefits from lower costs and increased energy security, with Norway supplying nearly half of the UK’s gas. flag Experts urge policy reforms, including shifting energy levies to gas, to support clean energy transitions like heat pumps and electric vehicles.

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