European Gas Rises to 2024 High on Ukraine Pipeline Concerns
- Russian military blog says Sudzha transit point seized
- Intake point sends Russian pipeline gas to Europe via Ukraine
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European gas prices surged to the highest level this year following a report that Ukrainian troops seized a key gas-transit point near the border in Russia.
Benchmark futures settled 4.8% higher at €38.45 a megawatt-hour, the highest since December. The unofficial Russian military blog Rybar said Ukrainian troops seized the gas intake point near the town of Sudzha. The claim couldn’t be independently verified.