Gas prices in Europe surged sharply

Natural gas prices in Europe surged sharply amid the U.S. and Israeli military operation against Iran, approaching the $500 mark per 1,000 cubic meters. Traders fear disruptions in energy supplies from the Persian Gulf countries.

This was reported by the Reuters news agency.

According to data from the ICE Futures exchange, the price of April natural gas futures at the Dutch TTF (Title Transfer Facility) hub rose by 24.69%, reaching a peak of 39.85 euros per megawatt-hour. Converted at current Forex market exchange rates, this amounts to approximately $491 per 1,000 cubic meters.

It is noted that the sharp price spike was triggered by the escalation of the situation in the Middle East.