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European gas prices hit highest level since 2022 amid winter supply concerns
European wholesale gas prices climbed to 97 euros, or 81 pounds, per megawatt-hour on Monday, marking the highest point since 2022. Lower temperatures and increased heating demand heightened worries over winter supply security and the ongoing Middle East conflict. The UK’s month-ahead gas contract surged by 4% to 240 pence per therm, its highest since December 2022. News that the US and Israel had developed strategies for potential new attacks on Iran following the US midterm elections also intensified concerns about energy supply stability. Oil hit 117 dollars a barrel on Friday. Brent crude…
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