The broader Germany economic impact was highlighted in producer price data on Friday, which in July saw their highest ever increases, both year-on-year and month-on-month, as energy costs skyrocket.
Before Gazprom announced the shutdown, gas prices in Europe remained close to five-month highs, while U.S. gas prices reversed course and were up 1.2% after the news.Germany has made targeted efforts to fill up its storage facilities to prepare for winter with levels standing at 78.19% as of Aug. 17, slightly more than the 75.89% for the European Union as a whole.
If I were Russia I wouldn't send a single molecule of gas to countries that were historically so antagonistic. One can never forget a certain 'operation' named after loutish and half-mad European Emperor.