UK Gas prices have soared by 520 percent this year. The soaring prices reflect current market conditions across Europe, and follow continued geopolitical uncertainty and rising tensions over the 759-mile Nord Stream 2 pipeline. Russia has been accused of putting pressure on Europe by reducing supplies into the continent, in order to get Nord Stream 2 approved, which could reduce Ukraine’s influence in the region. UK gas prices surged to an all-time high of 350p per therm on Thursday, up 520 percent year-to-date amid soaring demand and continued supply concerns across the continent this winter. While prices dropped to 320p per therm on the UK Natural Gas Futures on Friday morning, the benchmark remains ahead of Asia’s liquefied natural gas. Nathan Piper, head of oil and gas research at Investec anticipated that gas prices would remain high as economies recover from the pandemic. He said: “We believe there is […]