European wholesale gas prices rise as pipeline from Russia stays in reverse flow

The price of wholesale gas on one benchmark contract rose as much as 8% as the reverse flows from Germany to Poland on the Yamal-Europe pipeline continued to cause concerns.

European gas prices rose on Wednesday 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 8% as the reverse flows from Germany to Poland on the Yamal-Europe pipeline continued to cause concerns, a day after European prices soared over concerns about low supplies from Russia as colder weather approaches.