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The Commodities Feed: Gas supply risks
European natural gas prices have hit their highest level since January. TTF prices settled 4.2% higher yesterday at almost EUR34.39/MWh. This is after the Austrian energy company, OMV, warned that there was a risk that Russian pipeline flows to Austria could be halted after a court ruling that would block payment for natural gas delivered by Russia’s Gazprom Export. However, it is unclear if the ruling will be enforced. The supply at risk is 6 bcm per year supplied by Gazprom under a long-term contract to OMV for delivery into Austria. Austria still receives almost all of its gas supplies from Russia. In March, 93% ... (full story)