Brewin Dolphin: Putin keeps Europe guessing on gas

Dire economic consequences

clock • 4 min read
Janet Mui, head of market analysis at Brewin Dolphin

Janet Mui, head of market analysis at Brewin Dolphin

As heatwaves hit many parts of Europe, it is hard to envision the scenario of a freezing winter with an insufficient supply of gas and prohibitive costs to heat up homes and offices.

Before the war in Ukraine, the scenario of a complete gas shutoff from Russia to Europe was unfathomable. However, this is a tail risk that is garnering increasing caution from authorities, economists, and financial markets. In June 2022, the International Energy Agency (IEA) warned that Europe needs to prepare for a total halt in Russian gas and widespread curtailment in gas usage would be necessary. It is a nightmare scenario and leaves Europe in an extremely vulnerable position, economically, politically and socially. The asymmetric growth outlook in Europe is a key reason why we h...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Economics

Analysts continue to price in rate hikes despite data indicating the economy contracted 0.1% last quarter.

Analysts price in second consecutive 50bps hike by BoE as recession looms

59% according to Reuters poll

clock 16 August 2022 • 2 min read
“Cannot shake that silly pre-Enron, pre-9/11, pre-WorldCom feeling,” he wrote in one tweet.

'Big Short' Burry sells all but a single stock on dead cat bounce fears

$3.3m position in private prison group

James Baxter-Derrington
clock 16 August 2022 • 1 min read
Labour leader Keir Starmer

Labour Party calls for extension of oil and gas tax

Suggests cap freeze at current £1,971

clock 15 August 2022 • 1 min read