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Ukraine warns gas customers to cut their use

The ongoing battle between Ukraine and Russia is starting to have a material impact upon worldwide energy markets with the Ukraine government officially suggesting that gas customers should look to cut their use where possible. It would appear that the Ukraine is trying to prepare customers for a long hard battle with Russia, which has a strong hand in the supply of gas to the European market.

Yet again we have seen countries such as the UK caught up in what are ultimately political challenges in other areas of the world. It is no surprise to learn of oncoming elections in Ukraine and Russia's refusal to give up the fight for a country they once controlled. The Ukraine authorities decided just last year that they would stand up to their Russian counterparts and many believe recent events are linked to last year's dispute.

However much we try to wrap up the issues between Ukraine and Russia there is no doubt they are having a serious impact on gas prices across the world and in Europe in particular. As the European supply dries up there is a need to buy in more imported gas from other areas of the world which then pushes prices yet higher. Energy companies in the UK in particular have been under severe pressure for maintaining high prices even lower the cost of oil had fallen substantially over the last few months. The recent rise in gas prices is sure to end any hopes of short-term cuts in the cost of gas in the UK.

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