Gas prices surge to 140p-a-therm, highest in months
Wholesale gas prices have soared to their highest level since February, reaching 140p-a-therm. This represents a 25p increase from just a week ago. The sharp rise in prices could have implications for consumer inflation, causing concern for the Bank of England, according to economist Simon French of Panmure Gordon.
Israel's shut down of Tamar gas field impacts exports
As tensions rise in the region, Israel has shut down its Tamar gas field. This closure could lead to a drop in gas exports to Egypt, some of which usually go on to Europe. The disruption in supply is likely contributing to the surge in gas prices.
Leak in Estonia-Finland pipeline raises suspicions
A leak has been discovered in the Estonia-Finland pipeline, and Finland suspects foul play. Finland's National Bureau of Investigation has called it sabotage, suggesting that it would require specialized knowledge to rupture the pipeline. Some analysts believe this could be a retaliation from Russian President Vladimir Putin against Finland's recent decision to join NATO.
Putin denies Russian involvement in pipeline incident
Despite suspicions of Russian involvement, Vladimir Putin has vehemently denied any connection to the pipeline incident. He dismissed the idea as "complete rubbish" and stated that he was not even aware of the pipeline's existence.
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