Thursday, September 29

European benchmark gas contract soars 30% on market opening


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The benchmark Dutch TTF October gas contract rose by 62 euros ($61.34), or 30%, to 272 euros per megawatt hours (MWh) by 0621 GMT, reversing losses seen last week.

The jump comes after Russia scrapped a Saturday deadline to resume flows following maintenance on the Nord Stream 1 pipeline, which runs under the Baltic Sea to Germany, historically supplied around a third of the gas exported from Russia to Europe, but was already running at just 20% of capacity before the outage last week. ($1 = 1.0108 euros) (Reporting by Nora Buli, Editing by Louise Heavens)



financialpost.com

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