Bloomberg reports that European gas prices rose on the first trading day of the year, driven by a loss of key supply routes, low temperatures in northern Europe, and an unplanned disruption in Norway.

Bloomberg reports that European gas prices rose on the first trading day of the year, driven by a loss of key supply routes, low temperatures in northern Europe, and an unplanned disruption in Norway.

Russian gas supply through Ukraine ceased, and a Norwegian LNG plant halted production due to a compressor failure.

These disruptions coincide with rising heating demand in the region. However, the European Commission assured there is no security threat to supply in Central and Eastern Europe.

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