European Gas Futures Rise to Highest Since 2023 on Iran War
18 Articles
18 Articles
The resumption of hostilities in Iran caused a surge in the price of European gas. On Tuesday 1 September, it reached an unprecedented level for more than three years. - War in the Middle East: the price of European gas at the highest since 2023 after the new strikes (International).
The new escalation between the United States and Iran has led to a surge in oil prices, with a barrel of crude oil exceeding $90 and a European gas at the highest since 2023.
The European gas price has risen to its highest level since 2023. In energy markets, traders are reacting to the increased tensions between Iran and the United States. New fighting has put an end to hopes for a swift opening of the Strait of Hormuz, a strait that is very important for global energy trade.
European oil and gas prices jumped today, Tuesday, after the United States launched a new wave of strikes on Iran, which renewed fears of worsening energy flows through the Strait of Hormuz.
On Tuesday night, the Dutch TTF's futures contract, considered the European benchmark for the natural gas market, took 6.20%.
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