European gas prices surge past $800 amid Middle East tensions
Natural gas prices in Europe climbed above 800 US dollars per 1,000 cubic meters on Monday, marking the first time since January 2023 that the benchmark has crossed this level, according to data from London’s ICE exchange, Qazinform News Agency cites TASS.
April futures at the TTF hub in the Netherlands rose to around 820 US dollars per 1,000 cubic meters, equivalent to 68.635 euros per MWh based on current exchange rates.
The sharp increase reflects a 27% rise since the start of the trading day, driven by escalating conflict in the Middle East and rising oil futures.
Recall that the price of Brent crude oil for May 2026 delivery exceeded 119 US dollars per barrel on London's ICE Exchange for the first time since June 17, 2022, according to trading data.
