Natural gas prices in Europe stabilized on Thursday after a volatile week in which Russia cut gas flows via the Nord Stream 1 pipeline by 80 percent, causing an energy crisis for the bloc ahead of the cold winter season.
Dutch wholesale gas futures, the European benchmark, settled at 198.93 euros per megawatt-hour in Amsterdam on July 28, down from 210 euros the previous day.
Total numbers for gas futures were up 400 percent from the same time in 2021.
German benchmark energy futures fell 1.3 percent to 367.71 euros per megawatt-hour after reaching a record high at the beginning of the week, while month-ahead contracts fell.
The Nord Stream 1 pipeline is currently the primary route of Russian natural gas to much of Europe, accounting for a third of gas imports from the nation….