European gas prices soared to a new record high at the close of trading on Friday after Russia’s Gazprom announced that the Nord Stream pipeline would be closed for maintenance at the end of the month.
The Dutch TTF Gas Futures contract jumped to a closing high of 257.40 euros ($258.30) amid fears of winter energy shortages after Gazprom said deliveries via the Nord Stream pipeline would be halted from August 31 to September 2 due to maintenance work.
