European Gas Prices Surge Above $900 per Thousand Cubic Meters for First Time Since December 2022

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Gas prices on the European exchange surpassed $900 per thousand cubic meters, according to trading data from September 2.

During the trading session, the price of the November gas futures contract (on the Dutch hub) reached approximately $903 per thousand cubic meters. This is the first time such a high price has been recorded since December 2022.

The increase in prices was influenced by the escalation of geopolitical tensions, particularly the conflict in the Middle East, which creates risks for global energy supplies and increases demand for alternative sources, including gas.