Norway’s government said that based on the announced strike numbers, it had been feared that more than half of the country’s daily gas exports would have been lost by the weekend.
Joe Klamar | Afp | Getty Images
European gas prices on Wednesday fell away from four-month highs after Norway’s government intervened to bring an end to an oil and gas strike that threatened to exacerbate the region’s deepening energy crisis.
The front-month gas price at the Dutch TTF hub, a European benchmark for natural gas trading, was last seen trading 2.5% lower at 161 euros ($164.6) per megawatt-hour. The contract briefly climbed above 178 euros per megawatt-hour amid intensifying supply fears in the…