Natural gas prices skyrocketed this week and had Europe on edge. The only way to stabilize the situation is to know the root causes of the price spike, the head of the Association of European Businesses (AEB) has told RT.
According to Tadzio Schilling, Wednesday’s gas price surge on the TTF hub in the Netherlands, which saw it hit an unprecedented $1,936 per 1,000 cubic meters, made both European market participants and politicians “nervous.” Schilling added that everyone expressed great “relief” when the price started dropping after Russian President Vladimir Putin promised additional gas supplies to the continent. However, to stop the price swings from repeating, Schilling said Europe should focus on the root causes of the “phenomena… deeper causes that go beyond political statements.”
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