Fears grow of energy rationing in Europe after decision to extend Nord Stream 1 shutdown
European gas buyers are braced for further pain after Russia said one of the main pipelines to Europe will remain closed indefinitely, prompting fears of energy rationing.
Analysts warned that prices, which have risen by nearly 400% over the past year owing to lower gas flows from Russia, would go up further when markets open on Monday after Moscow scrapped a Saturday deadline for flows to resume, saying it had discovered a fault during maintenance.
