Gas prices have soared to their highest levels of the year following Ukraine's strategic military actions against Russia, including seizing a key gas transit point and penetrating the Russian border near a major natural gas transmission hub. The European benchmark contract witnessed a significant jump, reaching up to 5.7% increase to €38.78 per megawatt-hour, marking a new high for the year. This surge in prices reflects the escalating tensions and the direct impact of military engagements on energy markets. The situation underscores the broader implications of the conflict between Ukraine and Russia, not just on the battlefield but also in global energy supply and prices.
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