# Europe energy crisis: natural gas prices jump as Russia cut looms | Fortune

> European gas reserves are falling quickly after cold weather and a wind drought increased demand. Supply cuts from Russia loom, and prices are up about 45% this year. Tensions in Ukraine are rising ahead of the change of US administration.

- Date: 2024-11-23 · published 2024-11-23T12:00:00.000Z
- Category: geopolitics · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/27595-europe-energy-crisis-natural-gas-prices-jump-as-russia-cut-looms-fortune
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Tight European gas supply and the risk of Russian supply cuts support higher gas prices, which raise nitrogen fertilizer and energy costs. Geopolitical risk adds to the upside pressure.

## Read by commodity

- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2022-07-29 | [European Natural Gas, Asian LNG Prices Soar on NS1 Supply Cuts](https://feedsoft.ai/events/40665-european-natural-gas-asian-lng-prices-soar-on-ns1-supply-cuts.md) | -2.1% | +11.7% |
| NATGAS | 2026-08-28 | [Gas Prices in Asia and Europe Jump as Qatar Extends LNG Force Majeure \| OilPrice.com](https://feedsoft.ai/events/18063-gas-prices-in-asia-and-europe-jump-as-qatar-extends-lng-force-majeure-oilprice.md) | +1.1% | +10.5% |
| NATGAS | 2023-10-30 | [European Natural Gas Prices Gain as Egypt Says Pipeline Imports Stop – LNG Recap](https://feedsoft.ai/events/33804-european-natural-gas-prices-gain-as-egypt-says-pipeline-imports-stop-lng-recap.md) | +1.4% | -13.0% |
| NATGAS | 2021-10-01 | [European gas prices hit all-time highs as Russian flows slump \| Reuters](https://feedsoft.ai/events/44762-european-gas-prices-hit-all-time-highs-as-russian-flows-slump-reuters.md) | -0.5% | +0.2% |
| NATGAS | 2022-07-29 | [Russia gas cuts stoke Asia’s energy security fears \| Energy \| Al Jazeera](https://feedsoft.ai/events/40670-russia-gas-cuts-stoke-asia-s-energy-security-fears-energy-al-jazeera.md) | -2.1% | +11.7% |

## Sources

- fortune.com: https://fortune.com/2024/11/23/europe-energy-crisis-natural-gas-prices-russia-ukraine-war-vladimir-putin/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.