Business4 sources
European Gas Prices Surge to Four-Year High Amid Winter Supply Fears
- European gas prices have jumped above €100 per megawatt-hour due to escalating fears of conflict in the Middle East.
- Wholesale gas prices hit €97 per megawatt-hour, the first time since 2022, driven by forecasts of a cold winter and low gas storage levels.
- Reports of US-Israeli plans to strike Iran have further fueled concerns about Middle East supply disruptions.
- Temperatures across Europe have fallen, contributing to the surge in gas prices as traders price in winter risks.
- The conflict in the Middle East and potential supply disruptions are the primary drivers of the price increase.
Timeline
European gas prices soar to four-year high
European gas prices have jumped to levels not seen since 2022 due to winter supply fears.
Latest
European gas prices jump above €100
European gas prices have risen above €100 due to fears of Iran war escalation and low gas storage levels.
Economic Context
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Articles (4)
Financial Times·
European gas prices jump above €100 on fears of Iran war escalation
The Wall Street Journal·
European Gas at Four-Year High on Winter Supply Fears
Bloomberg·
European Gas Hits €97 for First Time Since 2022 on Winter Risks
The Guardian·
European gas prices soar to four-year high over winter supply fears