- BIST10011,577-1.87%
- USD49.58+0.05%
- EUR55.62+0.09%
- GOLD4,133.70-0.21%
- INTEREST37.00%-1.00
- BITCOIN84,512+1.90%
- October 21, 202616°
- BIST10011,577-1.87%
- USD49.58+0.05%
- EUR55.62+0.09%
- GOLD4,133.70-0.21%
- INTEREST37.00%-1.00
- BITCOIN84,512+1.90%
- October 21, 202616°
European gas prices rise 3%, nearing their highest level since 2022
The exchange price of gas in Europe, based on the TTF index, rose 3% to 87.5 euros, or about $98.2, per megawatt-hour amid tensions in the Strait of Hormuz and low storage levels.
European gas prices rose 3% on Wednesday, nearing their highest level since 2022 amid continued tensions in the Strait of Hormuz and concerns over low storage levels.
By 11:30 GMT, the price of gas on the benchmark European TTF index stood at 87.5 euros, or about $98.2, per megawatt-hour. The increase was linked to supply disruptions caused by attacks on tankers in the Strait of Hormuz.
According to Gas Infrastructure Europe, gas storage facilities in EU countries are about 71.5% full, compared with a seasonal average of around 92%. Eurostat says the European Union imports 85% of the gas it consumes and 96% of its oil.
Following cuts in supplies from Persian Gulf countries caused by the war against Iran, about 57% of Europe's liquefied natural gas imports come from the United States. Europe's dependence on LNG increased after Russian pipeline gas supplies declined when the war in Ukraine began in February 2022.
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