Natural gas prices are settling down. Get today's analysis here:
Natural gas prices in Europe rose more than 30% on Monday, after Russian exports via Nord Stream 1 remained suspended, while no date was set for re-flows.
While natural gas prices are still below the peak seen last month, rising energy costs increase the potential for a crisis when it is used for heating in the approaching winter. Governments are trying to allay fears, but monthly bills are set to rise, crippling the European economy in the next few months. This is hitting stocks and pushing the Euro to a 20-year low.
Unlike oil, natural gas markets are more regional than global because transportation costs are much higher. However, prices in the UK, which does not import gas directly from Russia, rose more than 30% on Monday and have more than quadrupled this year.
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