European gas price tops $750 for first time since March
The price of gas on the European market exceeded $750 per thousand cubic meters for the first time since March 19, amid escalating tensions in the Middle East.
AI will summarize what happened, why it matters and what it means for business.
The price of gas on the European exchange has exceeded $750 per thousand cubic meters for the first time since March 19, amid a new wave of escalation in the Middle East conflict. This is evidenced by data from the London-based ICE exchange.
The cost of the August futures contract on the TTF hub in the Netherlands rose to around $756 per thousand cubic meters, or €63.945 per MWh (based on the current euro-to-dollar exchange rate; ICE prices are quoted in euros per MWh). Quotes were up more than 1% from the start of the day.
Context
What happened before
Generated by AI. Please check key details when accuracy matters.
Gas price in Europe was below $750
Escalation in the Middle East
Gas price exceeded $750 for the first time since March 19