Reduced flows from Russia see gas prices surge to new highs

Gas prices surged to new record highs earlier this week following reduced flows from Russia into Europe but have since eased off slightly after LNG shipments were diverted away from Asia.  ICIS said front month contracts for January on the National Balancing Point gas market closed at 450 pence per therm on Tuesday (21 December), extending the previous sessions’ all-time high by another 80 pence.

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