Russia declared a state of emergency in its Kursk region, bordering Ukraine, as Ukrainian forces launched a significant incursion, marking the most extensive direct conflict on Russian soil since the war began over two years ago. Alexey Smirnov, the acting local governor, stated that the emergency status is necessary to address the impact of the incursion. Consequently, European natural gas prices rallied for a third day to EUR 39/Mwh.