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Europe gas prices jump as latest Russian cut plan stokes supply fears

European gas prices surged after Moscow's move to shut a major pipeline ramped up fears of a prolonged supply halt, leaving Germany once again guessing as to how much Russian fuel it can count on

Photo: Bloomberg
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Photo: Bloomberg

Vanessa Dezem | Bloomberg
European gas prices surged after Moscow’s move to shut a major pipeline ramped up fears of a prolonged supply halt, leaving Germany once again guessing as to how much Russian fuel it can count on this winter.
 
Benchmark futures rose as much as 16%, also driving up electricity prices to fresh records. The key Nord Stream pipeline will stop for three days of maintenance on Aug. 31, again raising concerns that the link won’t return to service as planned after the works. Europe has been on tenterhooks about shipments through the link for weeks, with flows resuming only at very

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First Published: Aug 22 2022 | 2:18 PM IST

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