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Natural gas prices in Europe jump after Ukraine blocks Russian flows

CNBC · Elliot Smith · last updated

European natural gas prices jumped after Ukraine’s state-owned grid operator suspended Russian flows through a key entry point.

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Related Knowledge Center: Energy security and pricing

State of Play

The United States achieved net energy independence in 2020, but that has not insulated the nation from the roiling of energy markets in the wake of the Russian invasion of Ukraine. Europe has been a large consumer of Russian natural gas, and the effort to wean itself, with the help of the United States, has strained markets and endangered global efforts to address the climate crisis.

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Related Knowledge Center: ENERGY BASICS: natural gas

State of Play

Background on natural gas issues. 

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