Energy

Russia-Ukraine crisis could spark rise in Europe’s gas prices

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Growing tensions between Russia and Ukraine have cast a shadow over energy markets, and the uncertainty could mean a prolonged period of high gas prices for Europe, analysts say.

“It’s a very tight gas market … and there’s no question that this sense of imminent crisis building with Russia and Ukraine is also hanging over the market, particularly since Russia does provide about 35% of Europe’s gas,” energy expert Dan Yergin told CNBC on Monday.

If the crisis escalates, gas prices in Europe – which soared to highs last year – could surge further, warned research firm Capital Economics in a note over the weekend.

William Jackson, chief emerging markets economist at Capital Economics…



Source cnbc.com

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