Gas Prices in Europe Reach 74 Euros per Megawatt Hour, a Higher Since January 2023
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The difficulties of sailing in the Strait of Ormuz and the lack of alternative routes for Qatar raise prices.
The wholesale price of gas on the European market on Wednesday exceeded 75 euros per megawatt-hour, reaching the highest level in more than three years, and the market also responds to the resumption of hostilities between the US and Iran and to the reduction of gas supplies to Europe.
While Thursday saw a correction in European gas prices, this was only a small consolation for drivers, businesses, and households using it, and indirectly for farmers. At times, the price exceeded €75 per megawatt-hour.
Gas prices in Europe are experiencing high volatility, fuelled by tensions in the Middle East and weak stocks, as winter approaches.
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