European Natural Gas Prices Top 100 Euros for the First Time Since 2022
Prices hit a level not seen since 2022 following an official warning about a new energy crisis on the continent this winter.
Global markets Editor: Fabricio Marcilio 1 min read
The benchmark natural gas contract in Europe surpassed the 100-euro mark per megawatt-hour on Wednesday afternoon. This price level had not been recorded since December 2022. The movement comes amid growing concerns regarding regional supply.
European Union Energy Commissioner Dan Jørgensen stated that the bloc is facing a new energy crisis. The official emphasized that the continent should expect a difficult winter. These remarks were made just hours before the market surge.
The Dutch TTF contract, which serves as the benchmark for the European market, reached 100.37 euros per megawatt-hour at 4:00 PM Central European Time. This figure represents an increase of more than 4% for the day. The scenario recalls the instability observed after the start of the conflict in Ukraine.
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