European gas set for weekly jump on Ukraine transit risks

This week, an incursion by Ukraine into Russia’s bordering Kursk region put a key gas transit point at risk.

European natural gas prices are set for a weekly jump as fears over possible disruptions to Russian fuel crossing Ukraine dominated the market.

Benchmark futures hovered near €40 a megawatt-hour on Friday, trading around the highest levels since December. Prices have risen more than 45% since the beginning of the stockpiling season, as numerous disruptions have coincided with traders’ efforts to source fuel for winter.