European Gas Prices Soar Amid US-Iran Tensions

European natural gas prices have more than doubled since the start of the US-Iran conflict in January, making energy costs extremely high for households and industries across Europe.

EU Energy Commissioner Dan Jorgensen is warning that this winter could be challenging due to 'very high' oil and gas prices. However, he does not foresee any supply issues.

Jorgensen has proposed postponing new rules to curb methane emissions on energy imports to ease pressure on European energy markets.