Recently, the European gas price has increased by nearly 20 percent in just five trading days after being introduced on the Dutch futures market. By midday, the price had fallen slightly to 28.5 euros per megawatt hour, which is still the highest level in a month.
The reasons for this increase are various and complex. Natural gas prices had been cheaper in recent months due to an abundance of supplies, mild temperatures, and ample liquefied natural gas (LNG) availability. However, geopolitical risks, supply disruptions for certain producers, cold weather in parts of Europe, and growing demand for LNG in Asia have all contributed to the recent price increases. Despite this, current prices remain lower than they were in 2023 and well below the peak prices of 2022.
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