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European natural gas prices are nearing a two-week high as the U.S. threatens to punish Russian energy buyers.
Jin10 data, July 31 - Due to President Trump threatening to punish India for purchasing Russian energy, concerns about the global supply outlook have arisen, leading European natural gas prices to approach a two-week high. As Trump intensifies pressure on Russia and Ukraine to reach a ceasefire, traders are anticipating that the U.S. may take action against Russian oil and gas buyers, including India. Trump warned on Tuesday that if Russia does not reach a ceasefire protocol within 10 days, the U.S. will take "tariffs and other measures." Earlier, gas prices had briefly fallen after Polish Prime Minister Tusk indicated a new prospect of Russia halting its ongoing invasion of Ukraine.