The Nord Stream 1 pipeline, through which Russian natural gas has been flowing to Germany since 2011, will be shut down for around 10 days for scheduled maintenance work.
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Natural gas prices are surging around the world as scorching temperatures stoke demand for the fuel, and as Europe’s push to move away from Russian fuel roils global energy markets.
U.S. natural gas futures surged more than 11% at one point on Tuesday to $9.75 per million British thermal units (MMBtu), the highest level since July 2008. The contract later pulled back slightly, and traded at $9.146 per MMBtu at 10:50 a.m. on Wall Street for a gain of 4.8%.
Natural gas is now…