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Economy

“European Gas Hit Record 100 Euros as Energy Crunch Worsens”

“European gas surged to a record 100 euros as China stepped up a global fight for energy supplies, in a move that threatens to derail the economic recovery. Prices later retreated.

In volatile trading, benchmark futures gained as much 2.3% on Friday before retreating. China ordered its state-owned energy companies to secure supplies for this winter at all costs, according to people familiar with the matter. That will intensify a battle for liquefied natural gas and coal cargoes just as flows into Germany via a key Russian pipeline tumbled…”

https://finance.yahoo.com/news/european-gas-rises-record-100-061053096.html

Well one of the main sources of oil was disrupted. That’s the Russia and Germany pipeline. Fix this problem and there will be less oil troubles. I don’t know why people avoid the obvious answers sometimes.

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