Gas Settles at Record Again With More Work Coming on Nord Stream
- Gazprom will halt remaining turbine for three days of work
- Hot, dry weather curbs fuel transportation, cuts hydro output
A worker adjusts a valve wheel at the Batajnica gas storage facility in Batajnica, Serbia.
Photographer: Oliver Bunic/BloombergThis article is for subscribers only.
Natural gas in Europe settled at a record high for a second day, intensifying the pain for industries and households, and threatening to push economies into recession.
Benchmark futures rose as much as 9% after Russia’s Gazprom PJSC said it will stop the key Nord Stream pipeline for three days of maintenance on Aug. 31. The link has been working at just 20% capacity since late last month.