# Explainer: Why Russia drives European and British gas prices

> Reuters explains that cuts to Russian gas flows through Nord Stream have driven European and British gas prices to record highs. Lower Russian supply also reduces the volumes available from Norway.

- Date: 2022-07-10 · published 2022-07-10T12:00:00.000Z
- Category: geopolitics · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/40669-explainer-why-russia-drives-european-and-british-gas-prices
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Europe's record gas prices raise nitrogen fertilizer production costs and tighten global energy markets, supporting gas prices.

## Read by commodity

- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2021-11-03 | [Explainer: Why Russian exports hold sway over European and British gas prices](https://feedsoft.ai/events/44229-explainer-why-russian-exports-hold-sway-over-european-and-british-gas-prices.md) | -7.5% | -21.2% |
| NATGAS | 2022-02-24 | [European gas prices soar and oil tops $105 after Russia attacks Ukraine](https://feedsoft.ai/events/42882-european-gas-prices-soar-and-oil-tops-105-after-russia-attacks-ukraine.md) | +2.2% | +13.9% |
| 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 | 2026-10-01 | [Will European Gas Prices Keep Rising This Winter?](https://feedsoft.ai/events/17649-will-european-gas-prices-keep-rising-this-winter.md) | +5.2% | -7.8% |
| NATGAS | 2022-03-15 | [Russia-Ukraine War Drives World Wholesale Fertilizer Prices Higher - Supply Chain Council of European Union \| Scceu.org](https://feedsoft.ai/events/5511-russia-ukraine-war-drives-world-wholesale-fertilizer-prices-higher-supply-chain.md) | +4.6% | +40.5% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/why-russia-drives-european-british-gas-prices-2022-07-10/

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