Europe’s Gas Prices Soar 60% To Record High As Buyers Shun Russia

The gas price at the Dutch TTF hub, the benchmark gas price for Europe, surged to a record high early on Wednesday amid concerns about supply disruptions from Russia and traders steering clear of deals with Gazprom’s trading unit. The front-month Dutch TTF natural gas futures soared by 60 percent to over $215 (194 euro) per megawatt-hour, hitting an all-time high in early trade in Amsterdam on Wednesday, while the front-month UK gas contract jumped by 33 percent. The market is increasingly apprehensive about a potential disruption to natural…