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European Natural Gas Reaches €100 For First Time Since 2022
The Dutch TTF benchmark rose more than 4% as renewed Middle East escalation and weaker wind and solar output lifted demand.
- On Wednesday, European natural gas prices climbed above €100 per megawatt-hour for the first time since 2022, driven by concerns over the Middle East war and the need to fill reserves before winter.
- Concerns about renewed escalation in the Middle East are driving prices higher, said Arne Lohmann Rasmussen, chief analyst at Global Risk Management. Weather forecasts also suggest lower wind and solar generation, increasing gas demand.
- The Dutch TTF futures contract—the benchmark for European gas—rose more than 4% to reach €100.45 per megawatt-hour. Overall, European countries consumed less gas than in 2022.
- Prices remain far below the peaks of the 2022 energy crisis, triggered by Russia's invasion of Ukraine, when they reached €345 per megawatt-hour.
- Analysts believe increased reliance on renewables and lower gas use reduce the risk of electricity bill spikes as severe as those seen in 2022. Overall, European countries now consume less gas than in 2022.
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24 Articles
24 Articles
European gas jumped to the highest levels since 2022, surpassing 100 euros, as low stocks and the war in Iran, with reports of a strong US blow after the midterm elections, intensify pressure
·Marousi, Greece
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The gas price in Europe has reached a new peak — 100 euros per MWh. In autumn alone, the price increased by almost 50%. The energy crisis in the EU countries is getting tougher, as autumn also brought unstable weather...
European natural gas prices topped 100 euros per megawatt-hour (MWh) on Wednesday, their highest level since 2022, as markets worried about war in the Middle East and the need to fill storage facilities before winter.
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Total News Sources24
Leaning Left2Leaning Right3Center4Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 22%
C 45%
R 33%
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