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7/5, 10:43 AM (Source: TeleTrader)
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European gas up 9% amid oil strike in Norway

Natural gas prices in Europe climbed over 9% on Tuesday amid the increasing concerns about gas supply and worries related to organized strikes in Norway.

Yesterday, Norwegian trade union Lederne said that almost 400 members would be on strike from July 9. Moreover, today the Norwegian energy company Equinor ASA announced that it closed the Gudrun, Oseberg South, and Oseberg East oil fields after the organized strikes. Analysts point out that around 13% of Norway's daily exports are at risk due to the possible escalation of protests.

UK natural gas futures for delivery in August climbed 9.83% to 309.980 pence per therm at 10:22 am CET.

Baha Breaking News (BBN) / JG