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European Gas Price Surges Above €40 Amid Pipe Leak And Oil Gains - Bloomberg

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European Gas Price Surges Above €41 Amid Pipe Leak And Oil Gains - Bloomberg

European Gas Price Surges Above €41 Amid Pipe Leak And Oil Gains

- Leak detected on pipeline linking Finnish and Estonian grids
- Gas also tracked oil price jump after deadly attack on Israel

Europe’s natural gas futures jumped after a leak was discovered on a pipeline in the Baltic region, sparking concerns about infrastructure security and adding to supply risks as the winter approaches.

The benchmark contract surged as much as 9.7% to trade above €41 ($43) a megawatt-hour Monday. A suspected leak was detected early Sunday in an undersea pipeline connecting the Finnish and Estonian grids, which its operators closed while investigating the issue.

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European Gas Price Surges Above €41 Amid Pipe Leak And Oil Gains

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