The price of natural gas in Europe reached its highest level in more than three months due to growing tensions in the Middle East, DPA reported, quoted by BTA.
The price index TTF (TTF), reflecting the price dynamics of the blue fuel traded on the gas hub in the Netherlands, rose today to 33.95 euros per megawatt hour of natural gas, with delivery in a month. This is the highest price of the blue fuel since January. One of the reasons for its increase in price is investors' concern about disruption of natural gas supplies due to the possible outbreak of a new war in the Middle East.
The markets are waiting for the Israeli reaction after the aerial military attack that Iran carried out against Israel on the night of Sunday, according to DPA.
Gas storage facilities in Europe are filled to an average of 62 percent of their capacity. According to the Association of European Gas Infrastructure Operators (Gas Infrastructure Europe - GIE), the fill level of gas storage facilities on the Old Continent over the past five years averaged 43 percent at this time of the year.
Meanwhile, the Finnish gas company "Gazgrid Finland" (Gasgrid Finland) announced that the gas pipeline "Balticconnector" (Balticconnector), which connects Finland and Estonia, will be put back into commercial operation on April 22.
The facility was damaged in October 2023. The damage was caused by a large anchor being dragged along the seabed, Finnish police said at the time, as quoted by Reuters.