European Gas Prices Rise with Russian Pipeline Stuck in Reverse

Some European Union lawmakers have accused Russia, which supplies around a third of Europe's gas, of using the crisis as leverage.

Susanna Twidale, Reuters

European gas prices rose on Jan. 5 as gas flowed eastwards for the 16th successive day along a pipeline that usually sends deliveries from Russia to Europe and political tensions remained high.

The price of wholesale gas on one benchmark contract rose as much as 6% as the reverse flows from Germany to Poland on the Yamal-Europe pipeline continued to cause concerns, a day after European prices soared by more than 30% over concerns about low supplies from Russia as colder weather approaches.

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