Gas prices climb after US warns Russia could invade Ukraine "any day now"
European gas prices have risen so far in trading on February 14, after the US and UK increased their ratcheted up warnings of an imminent Russian invasion of Ukraine.
White House security advisor Jake Sullivan warned on February 11 that an invasion could be "any day now," possibly before the Winter Olympics in Beijing end on February 20. He also urged US citizens in Ukraine to leave in the next 24 to 48 hours.
The UK foreign office likewise on February 11 called on British citizens to leave the country, as have Australia, Canada, Germany, Israel, Italy, Japan, the Netherlands, New Zealand and South Korea.
US president Joe Biden spoke with his Russian counterpart Vladimir Putin on the phone on February 12, warning that the US and its allies would "respond decisively and impose swift and severe costs on Russia" in the event of an invasion, according to a White House statement.
UK prime minister Boris Johnson meanwhile warned on February 14 that the situation had become "very, very dangerous," adding it was "pretty clear" that an invasion was Russia's intention. Moscow has repeatedly denied this, even though it has amassed a force of some 130,000 troops at Ukraine's borders.
As of 13:45 GMT, the March contract at the TTF gas hub in the Netherlands is trading 4.9% above the level during the previous session, at €81.25 ($91.9)/MWh. The growth comes despite relatively warm weather across Europe, and a recovery in Russian supplies this month and LNG imports to the continent remaining high.