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Europe has an emergency due to Russia's rising prices.
This is because Russia has announced that it will temporarily suspend gas supplies to Europe at the end of this month.
European gas prices surged tenfold during the day from a year ago.
As gas prices soared, so did the prices of other products.
This is Reporter Junmo Moon.
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The futures price for September delivery of 'Dutch TTF gas', which is commonly used as a standard for European natural gas prices, soared to 295 euros per megawatt-hour during the day.
This is a 20% increase from the previous trading day, which is a 1,000% increase compared to the '26 euro' a year ago.
This price surge is due to the announcement of the Russian state-run gas company Gazprom on the 19th.
Gazprom has announced that it will shut down the largest gas pipeline that supplies gas to Europe through the seabed for three days from the 31st.
It said that it would restart when the maintenance was completed, but natural gas prices soared as there were concerns that the supply of gas to Europe could be stopped altogether.
Russia has been reducing its natural gas supply since June in retaliation against Europe, which has imposed sanctions since the invasion of Ukraine.
Supply via subsea gas pipelines fell to 20% of pipeline capacity last month.
Unstable gas supply is leading to a surge in prices in European countries.
In the case of the UK, it is even predicted that the inflation rate will exceed 18% in January next year, the highest in more than 50 years.
UK inflation rose 10.1% in July, the first double-digit rate in 40 years.