European natural gas prices climbed past €80 per megawatt-hour for the first time in more than three years, according to market data cited by ChainCatcher from Gate. The benchmark futures contract rose as much as 6.8% and touched €80.98, marking its highest level since January 2023. The move puts the energy market back under close watch as colder-season demand approaches. ChainCatcher said the expected pickup in winter demand could keep pressure on prices, with the risk that elevated energy costs spread beyond the gas market and turn into a broader economic issue. The report did not provide additional details beyond the price move and the cited market data.
European natural gas prices moved above €80 per megawatt-hour for the first time in more than three years, according to Gate market data cited by ChainCatcher.
The benchmark futures contract climbed as much as 6.8% to €80.98, its highest level since January 2023.
ChainCatcher said expected winter demand could add to price pressure, raising the possibility that the increase develops into a broader economic problem.
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