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World News
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Title: European NatGas Prices Soar After Russia Threatens To Halt Nord Stream 1
Source: [None]
URL Source: https://www.zerohedge.com/commoditi ... gas-flows-europe-nord-stream-1
Published: Mar 8, 2022
Author: Tyler Durden
Post Date: 2022-03-08 09:55:51 by Horse
Keywords: None
Views: 147
Comments: 3

European natural gas prices surged Tuesday after Russia threatened the possible closure of the Nord Stream 1 (NS1) pipeline if Western countries decide to ban Russian oil.

Deputy Prime Minister Alexander Novak said Russia could halt NS1 flows to Germany if European countries and the US go ahead and ban Russian energy products.

"In connection with unfounded accusations against Russia regarding the energy crisis in Europe and the imposition of a ban on Nord Stream 2, we have every right to take a matching decision and impose an embargo on gas pumping through thee added: "But so far, we are not taking such a decision."

European natgas futures, Dutch gas, surged as much as 32% to around 295 euros a megawatt-hour, about 40 euros below yesterday's historic higher of 335. Prices have since faded intraday to around 200 euros. Gas prices have more than tripped on an intraday basis within the last two weeks following the Russian invasion and Western countries. Nord Stream 1 gas pipeline," Novak said.

Novak said a ban on Russian oil "would lead to catastrophic consequences for the global market." He said the surge in crude "prices would be unpredictable. It would be $300 per barrel if not more."

The comments come after U.S. Secretary of State Antony Blinken told NBC this past weekend that the Biden administration is in "very active discussions" with European leaders to restrict Russian oil imports.

Meanwhile, German Chancellor Olaf Scholz said Monday that Russian oil and gas are "essential importance" to the European economy. Europe receives one-third of its natgas from Russia, but the dependence varies per country.

Novak said that Russia has other options (China) for selling energy products if Western countries ban Russian oil.

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#1. To: Horse (#0)

Putin knows just saying that is enough to spike market prices, but he's well aware that if he does cut off the oil flow, he loses his leverage. But he could also reduce the oil flow.

Pinguinite  posted on  2022-03-08   10:00:58 ET  Reply   Trace   Private Reply  


#2. To: Pinguinite (#1)

He can sell to Pakistan and China. He is selling that and wheat to Pakistan. If prices go any higher, the EU will collapse. It will start with riots in the streets.

The Truth of 911 Shall Set You Free From The Lie

Horse  posted on  2022-03-08   11:36:51 ET  Reply   Trace   Private Reply  


#3. To: Horse (#0)

Man, I am so glad that we have the adults back in charge again. I mean, I doubt that we could have survived 4 years of mean tweets and bad spray on tanning on the world stage. I mean, how would we have made it through 4 more years of media lies and scandals, versus a possible Third World War?

I am dumbfounded how we endured 4 years of Trump… I am so glad the adults are running things again. I almost forgot what living under the specter of nuclear war felt like back in the 80’s. Now my generation’s grand kids understand how my generation felt living under Reagan. An unending conflict and unending war. No peace. Always fighting until some shit goes down in Ukraine. I wonder if they are trying to engineer a Reagan moment for fumblin’ Joe and Empty Head Hoe?

Regardless, If there were an argument to get these old traitorous fucks out of office, I’d say Ukraine would be a good start. The Biden Crime Cabal and the DNC make a lot of money off that corrupt installed government.

"Call Me Ishmael" -Ishmael, A character from the book "Moby Dick" 1851. "Call Me Fishmeal" -Osama Bin Laden, A character created by the CIA, and the world's Hide And Seek Champion 2001-2011. -Tommythemadartist

TommyTheMadArtist  posted on  2022-03-08   12:36:24 ET  Reply   Trace   Private Reply  


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