Gas prices jump, Germany’s DAX slides as energy crisis looms

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The halt in deliveries of Russian gas via pipeline to Germany pushed European gas price up on Monday and sent share prices tumbling on the German exchange. In the morning, the price of benchmark TFF gas futures jumped by about €72.5 ($71.8) to €281 per megawatt hour – about 35% more than on Friday. The key factor behind the price jump was seen as the announcement by Russia on Friday that it was suspending its natural gas deliveries via the Nord Stream 1 pipeline until further notice. State gas firm Gazprom cited technical problems related to European sanctions for the stoppage. Many European o…

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