Russia Mutiny Throws New Risk Into Already Volatile Gas Market
- Potential for Russian instability becomes new threat to supply
- Ongoing outages in Norway have led to big swings in gas prices
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Gas traders are bracing for more volatility after a short-lived rebellion in Russia poses yet another risk to supply.
Northeast Asian spot liquefied natural gas prices rose to $12 per million British thermal units on Monday, while swap values were pegged above that level, according to traders and brokers. That’s about 50 cents to $1 higher than on Friday, they said. In Europe, benchmark futures jumped as much as 14%.