European Gas Prices Soar As Russian Retribution Puts Kyiv in the Dark

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European Gas Prices Soar As Russian Retribution Puts Kyiv in the Dark
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European natural gas prices popped on Thursday amid Russia's intensification of attacks on Ukrainian energy infrastructure, with Russia claiming to have destroyed Kyiv's biggest power plant in an overnight missile strike

Europe an natural gas prices popped on Thursday amid Russia ’s intensification of attacks on Ukrainian energy infrastructure, with Russia claiming to have destroyed Kyiv’s biggest power plant in an overnight missile strike. The attack has so far led to power cuts in the Ukrainian capital and some regions that rely on power from Kyiv. Dutch TTF Natural Gas Futures May 24 contract gained over 8.5% on Thursday, while UK NBP Natural Gas Futures rose over 9.3%.

While Ukrainian military sources told local media that the Air Force succeeded in shooting down nearly 60 of over 80 Russian drones and missiles launched at Ukraine, Moscow has made it clear that the retaliation for Ukraine’s targeting of refineries on Russian territory will be met with in-kind retribution.

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