European Gas Market Sees Significant Price Increase
Gas futures prices have risen to €41.5, reversing yesterday's decline. The primary driver of this increase is growing concern over the potential reduction in Russian gas supplies via Ukraine by the end of the year.
Gas companies in Hungary and Slovakia, which also supply consumers in Italy and Austria, are actively negotiating with the European Commission to extend transit through Ukrainian territory into next year. However, EU officials have yet to seriously consider proposals from Hungary and Slovakia, despite the real economic risks to the EU.
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Gas futures prices have risen to €41.5, reversing yesterday's decline. The primary driver of this increase is growing concern over the potential reduction in Russian gas supplies via Ukraine by the end of the year.
Gas companies in Hungary and Slovakia, which also supply consumers in Italy and Austria, are actively negotiating with the European Commission to extend transit through Ukrainian territory into next year. However, EU officials have yet to seriously consider proposals from Hungary and Slovakia, despite the real economic risks to the EU.
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