Europe’s Gas Prices Soar As Russian Supply Cuts Persist

European benchmark gas prices jumped at the start of this week as Europe struggles to replace Russian gas losses to fill storage sites ahead of the winter. At the start of trade on Monday, European gas prices rose by nearly 7% but eased later in the day. The significantly lower Russian deliveries to major economies, including Germany and Italy, have the EU worried it might not get enough alternative supply to fill gas storage and prepare for the winter. EU member states are now required to reach a minimum 80% gas storage level by November…