European gas prices have surged to their highest levels since 2022, driven by escalating concerns over Middle East supply disruptions and reports of potential US-Israeli military action against Iran. Traders are anticipating heightened demand for heating as temperatures drop across the continent, pushing wholesale prices to €97 per megawatt-hour. The uncertainty stems from ongoing tensions in the region, which could further strain global energy markets.
Jump fuelled by fears of further Middle East supply disruptions amid reports of US-Israeli plans to strike Iran European gas prices have jumped to levels not seen since 2022 as fears continue to grow around the continent’s supply this winter and the conflict in the Middle East.Wholesale gas prices hit €97 (£81) a megawatt-hour on Monday, as temperatures across Europe fell and traders priced in stronger demand for heating. Continue reading...
