European Gas Prices Post Weekly Jump on Ukraine Transit Risks
- Fighting near key Russian transit point has endangered flows
- Russian supplies are still crossing Ukraine normally for now
Russia's Sudzha gas pumping station.
Photographer: Sergei Chuzavkov/AP Photo
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European natural gas prices posted a double-digit advance for a second consecutive week after fears of possible disruptions to Russian fuel supplies crossing Ukraine.
Benchmark futures advanced 10% for the week, after trading on Friday at the highest level since December. Prices have risen 48% since the beginning of the stockpiling season as numerous disruptions have coincided with traders’ efforts to source fuel for winter.