European natural gas prices rose 3.3 per cent to exceed €97 ($108.8) per megawatt-hour for the first time since 2022 as the Middle East conflict continues to threaten supplies, Anadolu reports.
Intensifying conflict in the Middle East has sharply heightened concerns over winter energy supplies, particularly as liquefied natural gas (LNG) flows from the Persian Gulf — which previously accounted for nearly a fifth of global supply — remain down roughly 80pc year-on-year.
European gas futures traded at €97.15 per megawatt-hour as of 0820GMT, up 3.3pcfrom Friday’s close and hitting their highest level since December 2022.
