European natural gas price reaches highest level since January
The price of natural gas in Europe has reached its highest level in over three months due to the conflicts in the Middle East.
On Wednesday, the benchmark TTF futures contract for delivery in a month rose to $36.12 per megawatt hour on the Amsterdam stock exchange.
This is the highest price since the beginning of January.
Over the past week, natural gas prices have risen by more than 20 per cent, making up for the decline in the first few months of the year.
One reason for the rise is investors’ fear of a new war in the Middle East and the potential impact on gas supplies from the region.
The commodity markets are waiting for Israel’s reaction following Iran’s attack on Saturday.
Previously, an unusually mild winter in Europe had caused the price of gas to fall.
The price hit 22.31 euros in February, its lowest level since last summer.
In addition, inventories are unusually high.
The storage level of all European gas storage facilities was 62 per cent.
According to the GIE association, however, the average level for the past five years at this time was only 43 per cent.
(dpa/NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
World
Venezuela twin earthquakes death toll hits 5,000, over 16,000 injured
The earthquakes tore through La Guaira state, a port town, and also affected some part of Venezuela’s capital, Caracas.
Heading 4
Trump threatens Canada with more tariffs over wildfire smoke polluting U.S.Â
Mr Trump stated, “This is willful negligence, and becoming a yearly occurrence, costing the United States billions of dollars.”
NationWide
PDP Leadership Tussle: Court fines Wabara-led BoT, lawyer N150 million, dismisses suit against Wike-led factionÂ
The PDP faction, loyal to the FCT Minister,BoT Nyesom Wike, approached the court and challenged the jurisdiction of the court to hear the suit.
NationWide
Management centre urges unaccredited trainers to regularise practice
Mr Chinoko appealed to unaccredited practitioners to comply voluntarily instead of waiting for legal enforcement.
States
Troops kill two terrorists, rescue three victims in two-day raid of Benue hideout
Mr Zubairu stated, “The operation, which commenced at about 0300 hours on 16 July and concluded on 17 July 2026.”
Diaspora
Police dog exposes Nigerian traveller with hidden guinea fowl, goat meat package at Canada airportÂ
Authorities stated that both the food and meat products sniffed out by the dog weighed 37 kilogrammes.
