Gazi stepped on the price of European gas and negotiated near the highest level this year, while geopolitical tensions escalated, as its forces first launch British cruise missiles into military targets within it. Ukraine’s strike using Storm Shadow missiles was approved in response to Russia that developed North Korean troops against Ukraine. This Moscow move is perceived by the British as an escalation of the conflict, according to Bloomberg. European gas prices react to geopolitical events, following crude oil. While Russian gas supplies through Ukraine to Central Europe are continuing normally, traders are monitoring for any changes to the status quo, especially after the cessation of cooperation between Gazprom and OMV and as the transit agreement between Kiev and Moscow ends at the end of this year. The Dutch forward contracts of the first month, i.e. the European gas benchmark, increased by 2.61%, reaching 46.86 euros per megawatt hour.
The escalation of the Russian-Ukraine conflict launches the price of natural gas
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