Search Site

Trends banner

Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

Gas prices soar to record highs as Ukraine crisis stokes supply fears

Ukraine's invasion by key producer Russia has stoked supply fears.
  • Europe reference Dutch TTF gas price struck 213.895 euros per megawatt hour in afternoon deals and UK gas hit 508.80 pence per therm.
  • Europe's London Brent North Sea crude leapt 4.7 percent to $115.63 per barrel, having surged to a 2012 peak close to $120 on Thursday.

Europe and UK gas prices hit record highs Friday and crude oil rallied, as Ukraine’s invasion by key producer Russia continued to stoke supply fears.

Europe reference Dutch TTF gas price struck 213.895 euros per megawatt hour in afternoon deals and UK gas hit 508.80 pence per therm.

“There is apparently fear of disrupted gas flows from Russia, although flows look normal until recently,” Commerzbank analyst Carsten Fritsch told AFP.

“There is also speculation that oil and gas flows from Russia could be sanctioned directly, which has been avoided for now.

“The seizure of the large Ukrainian nuclear plant by Russian troops has certainly added to this speculation.”

Meanwhile, Europe’s London Brent North Sea crude leapt 4.7 percent to $115.63 per barrel, having surged to a 2012 peak close to $120 on Thursday.

New York’s West Texas Intermediate oil soared 5.5 percent to $113.54 on Friday, one day after touching a 2008 pinnacle at $116.57.