War in Israel "hit" gas in the EU: fuel went up to a record mark

For the first time since the beginning of the year, a thousand cubic meters of gas in Europe has exceeded $ 600. Since the end of last week, the cost of natural gas in Europe has risen by 15%. Yes, the TTF futures in the Netherlands rose to 53 euros per megawatt-hour-almost $ 600 per thousand cubic meters, reaching the maximum level from February 15, 2023. Bloomberg writes about it.

It is noted that gas rises against the background of war between Israel and Hamas and infrastructure vulnerability, including diversion on the gas pipeline between Finland and Estonia. In addition, there have been several more incidents in the world that provoked an increase in gas prices. Among them: the publication also says that the market is now in a much better condition than in 2022. Reserves are enough, while industrial demand is falling. In addition, new import capacity has emerged.

In addition, forecasters believe that the future winter in Europe will be warm, so the need for gas will decrease. At the same time, the energy crisis, according to journalists, is far from completion, and in the coming days in Europe should start cooling. Any hint at the disruption of global gas flows can cause shock on the market, especially when households begin to use heating. Meanwhile, Naftogaz Ukraine was estimated by gas storage facilities on the eve of the heating season.