Gas Prices in Europe Have Been the Highest in Three and a Half Years
4 Articles
4 Articles
The Iran War and the drought are a fatal combination for the European gas markets. Households and industry have to expect rising prices over the winter
The European natural gas price continues to rise sharply and reaches its highest level since January 2023 on Tuesday. Buyers fear that even less gas from the Gulf region will be able to reach Europe due to US measures against Iran ('Economic D-Day').
In the third week of August, average weekly prices increased in most of Europe’s main electricity markets. The rise in TTF and CO2 gas and the fall in solar production boosted this trend. In Spain, Portugal and Italy, higher wind production and lower demand favored lower prices. Brent’s futures and TTF gas rose due to tensions in the Strait of Hormuz. TTF reached its highest closing price since 23 January 2023. Photovoltaic solar production In t…
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