Energy price crisis and worries over contagion from China’s Evergrande property giant have hit the markets
- Latest: Meat producers warn of supply problems from CO2 shortages
- European stock markets on track for worst day of 2021
- Crisis at China’s Evergrande spooks investors
Earlier:
- Kwarteng says energy price cap remains in place
- Politics Live: Lib Dems call for nationalised energy company to take on customers of collapsed suppliers
- FTSE 100 hits two-month low
- Energy market crisis: what caused it and how does it affect my bills?
Business secretary Kwasi Kwarteng is due to update MPs in parliament on the gas crisis shortly – our Politics Live blog will be tracking it:
Gas prices are continuing to climb very sharply today, as Russia’s Gazprom kept its taps tight.
Prices are up over 10%, despite Norway saying it would increase gas exports over the next year.
European natural gas prices roofing again (up ~15% on the day) after Gazprom signaled it doesn't plan to ship extra gas in October to Europe (beyond and above contractual volumes) plus another day of lots of gas-burning to generate electricity in UK / EU | #EuropeanEnergyCrunch
Russian gas exporter Gazprom has booked around a third of the gas transit capacity it was offered for October via the Yamal-Europe pipeline and no extra transit capacity via Ukraine, Interfax reported on Monday, driving European prices higher.
Gazprom has booked transit capacity of 31.4 million cubic metres per day via the Yamal-Europe pipeline for October, around a third of the offered volumes, Interfax said.
