European Gas Jumps to Fresh 2024 High With Ukraine Flows at Risk
- Futures are reflecting fears of possible supply disruptions
- Gas transit via Ukraine continues for now, but volumes dipped
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European natural prices rallied for a third day, settling at the highest level since December on fears of possible disruptions to Russian fuel crossing Ukraine.
Benchmark futures closed at 4.3% higher at €40.10 a megawatt-hour, following fighting in Russia’s Kursk region, home to a key gas intake point. The incursion is Ukraine’s largest assault on Russian territory since Vladimir Putin ordered the 2022 invasion.