- BIST10011,798+3.22%
- USD49.55+0.21%
- EUR55.57-0.09%
- GOLD4,143.40-0.40%
- INTEREST37.00%-1.00
- BITCOIN82,460+0.75%
- October 20, 202618°
- BIST10011,798+3.22%
- USD49.55+0.21%
- EUR55.57-0.09%
- GOLD4,143.40-0.40%
- INTEREST37.00%-1.00
- BITCOIN82,460+0.75%
- October 20, 202618°
European gas prices hit highest since December 2022 on Hormuz supply fears
The price of natural gas at the Dutch TTF hub rose to 89.74 euros per megawatt-hour, the highest since December 2022, amid concerns about LNG supplies through the Strait of Hormuz.
European natural gas prices climbed to their highest level since December 2022. At the Dutch TTF hub, one of Europe's main trading centers, November contracts rose 1.90% to 89.74 euros per megawatt-hour as of 12:23 p.m. on Oct. 20, after closing at 88.04 euros the previous day.
Rising attacks on tankers in the Strait of Hormuz and regional tensions have heightened concerns over liquefied natural gas supply security. Although some Qatari and Emirati LNG cargoes have passed through the strait in recent weeks, LNG flows are said to be running about 80% below their levels before the war on Iran.
Low storage levels in Europe are also pushing prices up. According to Gas Infrastructure Europe, EU gas storage is 74.58% full, compared with 85% a year earlier, as winter approaches.
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