The price of European natural gas soared to its highest level in more than 3 months, reaching €33.95 per megawatt hour on the Amsterdam Stock Exchange on April 17, 2024.
The benchmark TTF futures contract for delivery in one month rose to 33.95 euros per megawatt hour on the Amsterdam stock exchange today. This is the highest price since early January. Its price natural gas has been increasing significantly for a week.
According to newsit, during this time, the price of natural gas has increased by more than 20%, making up for the drop in prices in the first months of the year. One reason for the rise is investors’ fear of a new war on Middle East and the potential impact on natural gas supplies from the region.
After his attack Iran in the Israel last Sunday (14.04.24), commodity markets await Israel’s reaction. Earlier, an unusually mild winter in Europe had caused the price of natural gas to fall. In February, the price fell to 22.31 euros, the lowest level since last summer. In addition, inventories are unusually high for the time of year.
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