European gas prices shoot to new high as energy crunch worsens

European gas prices have surged to new record highs as flows from a key Russian pipeline stopped, spooking buyers that have been scrambling to secure supplies during a deepening energy crunch.

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Some traders fear that a possible Russian invasion of Ukraine, which hosts one of the other main pipelines into western Europe, could disrupt supplies even further over the winter.
Some traders fear that a possible Russian invasion of Ukraine, which hosts one of the other main pipelines into western Europe, could disrupt supplies even further over the winter. (Foto: Andrey Rudakov/Bloomberg)