EQNR - European gas spikes as Russia cuts off flows to Poland

Russia cut off gas supply to Poland, according to Onet.pl, sending European gas prices up more than 15% at one point Tuesday. Poland's Climate Minister, Anna Moskwa, quickly responded indicating that natural gas storage in Poland is 76% full and that, "there will be no shortage of gas in Polish homes." Nevertheless, the move marks a ratcheting up of tensions,  and could reduce supplies to Europe, as many pipelines pass through Poland in route to the rest of the continent. Increased discussion of coal and oil sanctions from Europe have gone largely ignored by commodity markets, as prices remain near recent lows; however, Russia's action Tuesday could mark a change in direction for natural gas markets in Europe. To the extent Tuesday's news is the first indication of reduced Russian gas flows, domestic European producers like Equinor (EQNR), Vermillion (VET) and NRT (NRT) stand to benefit, alongside LNG producers Shell

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European gas spikes as Russia cuts off flows to Poland