European Gas Prices Face Upside Risks Amid Russian Supply Threat

ING analysts Warren Patterson and Ewa Manthey highlight escalating upside risks for European gas prices. This comes as President Putin indicated that Russia might divert gas supplies away from the EU. Compounding the issue, global LNG flows from the Persian Gulf are also facing disruptions. The potential impact on supply could lead to significant market shifts, raising concerns about energy security in Europe. As the winter months approach, volatility in gas prices may increase due to these geopolitical tensions and supply chain issues.

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