posteriori
European gas futures surge by more than 10% after Russia said on Monday it would halt another turbine on the Nord Stream 1 pipeline to Germany, cutting gas flows by half from already reduced rates of just 40% of capacity.
Gazprom (OTCPK:OGZPY) said the pipeline will be pumping 33M cm/day, or 20% of capacity, starting Wednesday.
The statement pushed benchmark European gas prices - which already have more than doubled so far this year - up as much as 10% to 176/MWh, equivalent to ~$180.
ETFs: (UNG), (UGAZF), (DGAZ), (BOIL), (FCG), (KOLD), (UNL)
The European Union proposed a plan last week for member states to cut gas usage by 15% until March, but some governments demanding more flexibility are forcing the EU to consider revising the plan.