Natural gas in Europe: prices at 5-month highs

Futures exceed 65 euros per megawatt hour due to geopolitical tensions linked to Iran

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Natural gas prices in Europe exceed 65 euros per megawatt hour, reaching five-month highs.
The rise follows the trend of oil after Donald Trump's threats of economic sanctions against Iran and tensions in the Strait of Hormuz.

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Why It Matters

Gas prices are affected by geopolitical tensions in the Middle East and threats of US economic sanctions against Iran.

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Natural gas prices in Europe return to record levels, above 65 euros per megawatt hour, a level they have not seen for 5 months.

Following the trend of oil, after US President Donald Trump announced his intention to inflict on Iran what he called an "economic D-Day", with the prospects of a resumption of energy flows through the Strait of Hormuz still slim, the reference futures gained 3.3% to 65.47 euros, a level not seen since the first days of the war in the Middle East.