Benchmark energy futures fell after jumping on Monday, with Dutch front-month gas losing as much as 13% and German year-ahead power falling 11%.

Russian flows of gas via the Nord Stream 1 pipeline, which runs under the Baltic Sea to Germany, remained at zero on Tuesday after Russia scrapped a Saturday deadline to resume flows following maintenance.

Newcastle futures for October jumped 5% to $463.75 a ton Monday, according to ICE Futures Europe, to the highest price in data stretching back to January 2016. Europe’s benchmark coal price is also trading at a record.

The NEUP funding will allow detailed collaborative research into the economic and environmental benefits of floating advanced nuclear power generation and take a granular look at all aspects of building, operating, maintaining, and decommissioning such facilities.

Brent advanced by $2.45, or 2.6%, to $95.47 a barrel, WTI was up $2.13, or 2.5%, at $89.

They reaffirmed their commitment to expand trade and economic relations, including promoting joint strategic projects in energy.

Gas prices surged more than 35% on Monday as traders reacted to Russia’s decision to keep its main gas pipeline shut indefinitely.

Europe and North America are sanctioning the Russian economy, including its energy exports, while Russia is retaliating by cutting key resources, in particular natural gas flows to Europe. This is massively disruptive

That should help to make future decision making easier. But it is not going to help keep us warm this winter or indeed even in winter 2024.

China imported six LNG cargoes of about 71,000 mt each from Russia's Yamal LNG terminal and three cargoes of about 62,000 mt each from the Sakhalin LNG terminal,