European gas prices hit three-year highs
European gas prices surged sharply, reaching their highest levels in over three years, due to recent escalations in the Middle East and declining inventories to concerning levels as winter approaches. The futures price, based on the Dutch TTF index—Europe's most referenced benchmark—stood at €79.21 per megawatt-hour, marking a 4.44% increase from the previous €80.99. This is the highest price since January 2023.
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