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European gas prices rise 5% for first time since 2023
European gas prices have experienced a record rise, reaching 84 euros per megawatt/hour, marking a 5% increase for the first time since the start of 2023. This surge is due to escalating tensions between the United States and Iran, which are delaying LNG shipments through the Strait of Hormuz. Despite the European Central Bank raising inflation forecasts and increasing interest rates, oil and gas prices remain higher than expected, indicating that prices are continuing to rise.
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