Euro Hits 20 Year Low Gas Prices Rise As Putin Turns Off The Taps
We start the week with another spike in natural gas prices after Putin cut off supplies via the critical Nord Stream pipeline. The gas connection was due to restart on Saturday after three days of scheduled maintenance. However, Gazprom made a last-minute decision not to restart supplies, blaming an oil leak. EU leaders had braced for such an outcome as Putin continues to use energy supplies as a weapon. The bloc is now rushing to implement emergency measures to prevent blackouts and rationing this winter as the energy crisis threatens to push the region into recession....