As the international market closely monitors developments in Russia's Kursk region, one-month futures on the Amsterdam stock exchange rose at least 2.6%
Ukraine routes to be cut
After 2024 it is likely to stop Russian gas flows through Ukraine, as the relevant agreement between the two countries expires. However, if the flows stop sooner and suddenly, some European countries such as Slovakia and Austria, which still rely on Russian supplies, are likely to see a rise in natural gas prices, weighing on households and businesses.
Of course, the European gas market was already volatile before the developments on Russian soil, as heat waves in parts of Asia and Europe led to increased demand and intensified price competition. Also, some major producers have experienced problems with their infrastructure due to maintenance or extreme weather.
In any case, Europe's benchmark futures have risen by around 40% since the start of April.
