Gas prices in Europe rose by almost 8 percent
Gas prices in Europe rose 7.87 percent to $ 1,149 (96.66 euros), during trading on Tuesday, December 7, according to data from the ICE exchange.
The value of January futures on the Dutch TTF hub jumped on news of possible US sanctions against Russia in the event of an invasion of Ukraine. writes Bloomberg. The volume of purchases increased by 7.6 percent. Investors fear that escalating tensions between Moscow and the West will reduce gas supplies from Russia. “The European gas market is once again at the mercy of geopolitics, as fears of a Russian invasion of Ukraine increase the likelihood of new sanctions against Moscow,” said Ole Hansen, head of commodity strategy at Saxo Bank.