Commodities
European Gas Prices Soar 10.1% as Supply Fears Intensify
European gas prices surged by 10.1% to €61.14 per megawatt hour on Monday, sparking fresh concerns about supply in the region's energy market.
The jump puts pressure on Europe's energy system, which relies heavily on natural gas for heating, electricity generation, and industrial activity.
Gas prices have remained above their levels from earlier this year, with benchmark European gas trading around €61 per MWh on August 10.
The current price is also significantly higher than it was a year ago, rising more than 18% over the past month.