VIENNA/LONDON (Reuters) - Russian gas supply to oil and gas company OMV in Austria is at risk of stopping before the end of the year due to an arbitration case against Gazprom, the company said. Austria is one of the few European countries still dependent ...

OMV AG warned Russian natural gas supplies may be disrupted as the company intends to stop paying for imports from Gazprom PJSC to recoup damages it won in arbitration. European futures surged to the highest in a year.

European gas futures jumped to their highest level in a year. This was due to fears that Gazprom may cut off supplies to Austria, Bloomberg reports. Futures on the TTF hub in the Netherlands rose by 3.