European Gas Prices Jump as Putin Vows Use of ‘All Available Means’ in Fight Over Ukraine

European natural gas prices spiked as Russia amped up its war rhetoric with President Vladimir Putin announcing a “partial mobilization” of the military beginning Wednesday amid accusations of Western “nuclear blackmail” and setbacks for Russian forces in northeast Ukraine.
Benchmark Dutch TTF gas futures are trading at €206.935, which have risen more than 6.5 percent from opening the day at €203 per megawatt-hour (MWh), as of 7:09 a.m. EDT. Countries in the region are scrambling to ensure supply as the winter season looms, with gas shortages and prohibitively high energy prices crippling local businesses and depleting household incomes.
With Russia pledging to move forward in its war against Ukraine—now in the seventh month—the conflict has revealed the vulnerability of European energy infrastructure and the continent’s over-reliance on Russian gas….

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