The Russian state energy company “Gazprom” announced in a statement the closure of the only gas pipeline, “Nord Stream 1”, which transports natural gas to Europe for “periodic maintenance” from August 31 to September 2.
As the date approached, gas contracts rose to record prices, with an increase of around 20%.
Meanwhile, Germany’s federal statistics office said exports from Europe’s biggest economy outside the European Union fell 7.6% on a monthly basis in July, is a weak start to the second half.
The pound fell to a two-and-a-half-year low of $1.1729, while the Japanese yen settled at 137.270 to the dollar, following hitting a one-month low of 137.705 earlier. during the day.
On the US side, Commerzbank analyst Ulrich Lochtmann said the “Jackson Hole Symposium” will be another opportunity for the Federal Reserve to persuade the market and will be held at the end of the week.
