# European gas prices hit all-time highs as Russian flows slump | Reuters

> European gas prices hit all-time highs on Friday as Russia kept a tight lid on its gas supply. The move signals further price pressure on European consumers ahead of winter heating demand.

- Date: 2021-10-01 · published 2021-10-01T12:00:00.000Z
- Category: geopolitics · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/44762-european-gas-prices-hit-all-time-highs-as-russian-flows-slump-reuters
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

Russian supply restraint tightens European gas, which raises ammonia and urea production costs and supports fertilizer prices. Higher energy costs also squeeze European feed and livestock margins.

## Read by commodity

- UREA: bullish ▲
- NATGAS: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| UREA | 2021-10-01 | 5 | +28.9% | 7.1 | Record European gas prices on 1 Oct reinforce the production-cost squeeze on European nitrogen plants. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2021-11-03 | [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 | 2022-07-10 | [Explainer: Why Russia drives European and British gas prices](https://feedsoft.ai/events/40669-explainer-why-russia-drives-european-and-british-gas-prices.md) | +9.5% | +31.7% |
| NATGAS | 2024-10-29 | [TTF prices surge to their highest level \| European Gas Hub](https://feedsoft.ai/events/8118-ttf-prices-surge-to-their-highest-level-european-gas-hub.md) | -10.5% | +41.4% |
| NATGAS | 2026-08-24 | [US LNG exports set for endurance test as high gas prices bite \| Reuters](https://feedsoft.ai/events/18057-us-lng-exports-set-for-endurance-test-as-high-gas-prices-bite-reuters.md) | +2.1% | +3.1% |
| UREA | 2022-08-24 | ['New shock' for European markets as gas price spike fuels inflation fears \| Reuters](https://feedsoft.ai/events/40209-new-shock-for-european-markets-as-gas-price-spike-fuels-inflation-fears-reuters.md) | +20.2% | +13.3% |
| UREA | 2026-05-06 | [Nutrien posts higher profit as prices rise, flags tight nitrogen supply \| Reuters](https://feedsoft.ai/events/19582-nutrien-posts-higher-profit-as-prices-rise-flags-tight-nitrogen-supply-reuters.md) | -4.5% | -27.3% |
| UREA | 2022-04-23 | [Fertilizer Prices Reach All-Time Highs Amid Turbulent Market](https://feedsoft.ai/events/42159-fertilizer-prices-reach-all-time-highs-amid-turbulent-market.md) | -18.1% | -19.0% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/european-gas-prices-hit-all-time-highs-russian-flows-slump-2021-10-01/

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