UNG - European natural gas soars to one-month high on Nord Stream 2 setback

The price of natural gas surged again in Europe to the highest since mid-October after a delay in the approval process for the Nord Stream 2 pipeline sparks concerns about securing enough gas for the winter. The price of gas next month for the European benchmark in the Netherlands jumped 8% to hit €101.30/MWh, the highest for a most-active contract since October 18, after soaring 18% on Tuesday. ETFs: UNG, UGAZF, DGAZ, BOIL, FCG, KOLD, UNL, GAZ According to Bloomberg, the Kremlin said Gazprom (OTCPK:OGZPY) will meet its contractual obligations, but that any extra shipments on existing routes will depend on requests from European clients and the company's "readiness" to fulfill them. "The timeline for the start of the pipe now appears longer than what we initially expected," Goldman Sachs analysts say, adding they now expect it will not be up and running until February. Pending the formation of a

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European natural gas soars to one-month high on Nord Stream 2 setback