Heat Wave Intensifies Energy Crisis in Europe

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Pure-gas costs in Europe headed towards their highest closing degree on file as sizzling summer time climate boosts gas demand and Russia throttles again provides.

Europe has contended since June with drastically lower imports of gas from Russia, till lately by far its largest provider. Moscow lower flows by the Nord Stream pipeline by 80% to punish Germany and others for supporting Ukraine. Fearing President Vladimir Putin will order a full cutoff, the European Union has launched into a plan to preserve gasoline now to burn it over the winter.

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