European Gas Prices Soar to Multi-Year Highs Amid Supply Concerns
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Energy prices in Europe, particularly for natural gas, have surged to new multi-year highs. The price of gas on the Dutch TTF hub reached 87.547 euros per MWh on Friday, the highest since December 2022, while electricity prices also increased. This rise is attributed to concerns over supply disruptions in the Middle East, including attacks on LNG tankers near Yemen, and low gas inventories in Europe. The situation is exacerbated by competition for available supplies between Europe and Asia as winter approaches.
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