European gas prices rise to highest level in over a month

Gas prices on European exchanges rose on Friday, surpassing the $800 per thousand cubic meters threshold for the first time since March 19.

According to economic news agency Bloomberg, September futures on the Dutch TTF hub—the main benchmark for European gas—rose by 1.5 percent to $800.4.اضافة اعلان

Prices had opened the trading day at $786.3 per thousand cubic meters.

The price surge comes amid faster-than-usual depletion of storage levels across European facilities. Additionally, growing demand for liquefied natural gas (LNG) in Asian markets is squeezing the availability of cargoes destined for Europe, driving up import costs and deepening concerns over the continent's ability to secure its needs for the upcoming winter months.

Petra