European Gas Prices Reach Highest Level Since Iran War Began as Oil Also Rises
Translated from German and summarized by DistantNews. Read the original for the full story.
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- European gas prices climbed to their highest level since the start of the Iran war amid concerns about further attacks.
- The benchmark TTF contract for delivery in one month reached 71.70 euros per megawatt-hour, nearly 3% above the previous day.
- Reports of attacks on tankers in the Strait of Hormuz also pushed oil prices higher and heightened concern over Gulf LNG supplies.
European gas prices have reached their highest level since the Iran war began, while oil prices have also risen after reports of attacks on tankers in the Strait of Hormuz.
The benchmark TTF futures contract for delivery in one month climbed to 71.70 euros per megawatt-hour at the Amsterdam exchange, nearly 3% higher than the previous day.
Reports on Tuesday of attacks on tankers in the strategic waterway drove the gas market higher. The attacks also increased concern about liquefied natural gas supplies from the Gulf region and added pressure to oil prices.
About this summary
Originally published by Der Standard in German. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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