Energy prices are rising after a new wave of escalation in the Middle East. In particular, oil is also rising sharply in price – by about 5%. The day before, Iran fired several missiles at northern Israel. Later, the Israel Defense Forces (IDF) announced strikes on military targets in the central and western parts of Iran.
Average exchange prices for gas in Europe in March increased by almost 60% compared to February due to the escalation of the conflict in the Middle East, exceeding $ 600 per thousand cubic meters for the first time since February 2023, according to experts’ calculations. In April, they fell by 14%, to about 540 dollars per thousand cubic meters.
Last month, quotations for some time – from May 15 to 20 – exceeded the level of $ 600 per thousand cubic meters.
The maximum price of gas during the conflict – $853.7 per thousand cubic meters – was reached on March 19, when the CEO of Qatar Energy Saad Al Kaabi said that two of the 14 LNG production lines of the company in Qatar were damaged. Prices have not risen to that level since early January 2023.
