Gas futures up by 4% as Europe struggles with prices

Wednesday, 14. September 2022 12:14

Prices of European gas futures rose on Wednesday by 4% despite efforts by European Union to address rising prices and amid increasing worries over its cost in front of the winter season.

Today, European Commission President Ursula von der Leyen said that measures against soaring electricity costs will undoubtedly be beneficial for consumers while at the same time highlighting that "it's wrong to receive extraordinary revenues on the backs of the consumers." Her remarks come along with reports that Germany could increase its stake at Uniper SE above 50% in order to avoid an energy collapse.

UK natural gas futures for delivery in October rose 4.30% to 384.99 pence per therm at 11:53 am CET.

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