European gas prices have reached their maximum this year: what is happening on the market
Kyiv • UNN
Gas prices in Europe rose to 42.98 euros per megawatt-hour, the highest level since December 2023. The increase was caused by supply disruptions from Norway and geopolitical risks in the Middle East.
European gas prices have reached their highest level this year, as supply concerns overlap with geopolitical risks, UNN reports, citing the Financial Times.
Details
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.