European Natural Gas Hits Highest in Nearly Four Years on Winter Supply Worries (UNG:NYSEARCA)
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66 Articles
Oil prices behaved volatilely this Tuesday, with the prospect of a higher supply of diesel from Russia helping to alleviate some concerns about the risk of disruptions from attacks in Saudi Arabia. Brent’s futures fell 0.90 percent, to 105.69 dollars per barrel. West Texas Intermediate (WTI) rose 0.43 percent, to 94.14 dollars. Gas peaked from 2022, as the Dutch future contract, of reference for Europe, rose 2.91 percent, to 86.60 euros per mega…
Europe's Suffocating Energy crisis... Gas Jumps 150 Percent and Fears of a Long-Term Economic Shock.
Europe is facing an unprecedented energy crisis as gas prices rise to record levels and a harsh winter approach, amid inflationary pressures and strategic geopolitical disturbances that threaten economic growth and call for urgent structural solutions.
The gas price has reached its highest level since the gas crisis following the Russian invasion of Ukraine. On the European wholesale market, the price briefly stood above 87 euros per megawatt-hour early this morning. In February, before the United States launched its attack on Iran, the price was still around 30 euros per megawatt-hour. Due to attacks from Iran and now also Houthi rebels from Yemen, major refineries and liquefied natural gas …
According to Reuters, European natural gas prices have risen by more than 150% since the beginning of the year, while maintaining prices at high levels is now a basic scenario for the market.
On Tuesday, the price of natural gas at the European TTF trading point set a new record for this year, writes Verslo žinios. According to the portal, at least several acute reasons have increased prices, and the winter, although predicted to be warmer, is not expected to be easy.
Gas in the EU has become the most expensive in the last four years, reported by European media with reference to a study by the ING Bank.
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