Here Is the New Peak: European Gas Prices Have Run Wild on the Eve of the Heating Season
12 Articles
12 Articles
The Dutch TTF gas exchange's quotation jumped to close to 84 euros/MWh on Monday. European gas prices have risen by around 30 percent in a month and more than doubled in a year, while the continent's storage facilities are unusually empty for the season ahead of winter.
Delivery failures from the Middle East drive the European gas price up further. At the same time, the filling levels of the gas storage tanks are low. Time pressure for Germany is growing.
The European gas price has already almost tripled this year. In Austria, gas storage is currently almost 67 percent filled.
Reformatorisch Dagblad
The European gas price rose on Monday morning at the leading gas exchange in Amsterdam, following higher oil prices. The price climbed nearly 5 percent to more than 83 euros per megawatt-hour. Last week, the price already rose to over 80 euros for the first time since January 2023.
The wholesale price of natural gas for the European market this morning exceeded 84 euros (about 2040 CZK) per megawatt hour (MWh) for the first time since the end of 2022. At around 11:15 CEST, it was just below this level, with the October futures contract on the Title Transfer Facility (TTF) virtual trading hub in the Netherlands up 5.5 percent. Supply disruptions from the Middle East are to blame.
VIENNA. The gas price has already almost tripled this year, and Austria's gas storage facilities are filled to about 67 percent.
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