European gas prices have reached their highest level this year, as supply concerns overlap with geopolitical risks, UNN reports, citing the Financial Times.
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The price of the so-called Title Transfer Facility (TTF), the European benchmark, rose by 1.9 percent on Friday to 42.98 euros per megawatt-hour, the highest level since early December last year.
The growth occurs despite the fact that the EU's gas storage facilities are almost full.
Analysts say the rise in gas prices is due to unplanned interruptions in some gas flows from Norway, Europe's largest supplier of natural gas, and geopolitical risks, including the conflict in the Middle East.
Oil falls on the back of data from the US, but the market is watching the Middle East23.10.24, 15:32