Natural gas prices, already climbing over the past year, rose further in the wake of Russia’s invasion of Ukraine, a move that came after Germany halted certification of the Nord Stream 2 pipeline when Russia recognized the breakaway Luhansk People’s Republic (LPR) and Donetsk People’s Republic (DPR). Dutch natural gas futures surged 51.87 percent, per Investing.com. In the United States, Henry Hub natural gas spot prices were up a more modest 5.1 percent as of 10:50 AM on Feb. 24, according to Business Insider. A joint statement Thursday from G7 leaders concluded with comments on the increasing prices of natural gas and oil, saying that attention to the commodities reflected their determination to “do what is necessary to preserve the integrity of the rules-based international order”: “We are also closely monitoring global oil and gas market conditions, including in the context of Russia’s further military aggression against Ukraine. We support …
Natural Gas Prices Continue Climbing After Ukraine Invasion, Nord Stream 2 Cancellation
February 24, 2022
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Business & EconomyChinacommoditieseconomic policieseconomyEuropeMarketsNatural gasPutinRussia-Ukraine WarUkraineWorld
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