European Natural Gas Hits Highest in Nearly Four Years on Winter Supply Worries (UNG:NYSEARCA)
26 Articles
26 Articles
Europe's Suffocating Energy crisis... Gas Jumps 150 Percent and Fears of a Long-Term Economic Shock.
Europe is facing an unprecedented energy crisis as gas prices rise to record levels and a harsh winter approach, amid inflationary pressures and strategic geopolitical disturbances that threaten economic growth and call for urgent structural solutions.
According to Reuters, European natural gas prices have risen by more than 150% since the beginning of the year, while maintaining prices at high levels is now a basic scenario for the market.
Gas in the EU has become the most expensive in the last four years, reported by European media with reference to a study by the ING Bank.
The Middle Eastern conflict continues to disrupt oil production and transport to Europe, bringing gas to its highest level in almost four years.
Attacks on merchant ships and the still uncertain situation in the Middle East continue to drive up energy prices. The price of European natural gas reached a multi-annual high on Tuesday.
The price of 'European' gas rises for the sixth consecutive session and is reported on the peaks since December 2022 among the fears for the arrival of the winter season with the conflict in the Middle East still open. (ANSA)
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