Commodity: European gas price continues to soar - just below €100
For wholesalers, natural gas costs as much as it has not for almost four years. The Iran war and the replenishment of German storage facilities are driving prices - gradually also for household customers.
The European natural gas price has continued its recent surge, reaching 97.64 euros per megawatt-hour (MWh) for delivery in a month on the Amsterdam exchange. This represents a nearly 3% increase from Friday and the highest price since late 2022. The price has risen by about a third since the start of the month and has more than tripled since the beginning of the year.
The increase is attributed to tensions in the Middle East, specifically the Iran conflict, and Germany's efforts to fill its gas storage facilities ahead of winter, with the country's storage currently 61% full.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
