Record prices, dwindling supplies, drought, and policy have sparked a perfect storm for European energy markets with ‘no end in sight’

It’s not just Russia’s weaponization of energy that’s hurting European markets. A perfect storm has hit the continent and led Bank of America analysts to conclude there’s “no end in sight” for the worsening energy crisis.

The tumult reached new levels last week, with gas and power prices soaring to fresh records Friday.