European natural gas prices rose to their highest levels in three months on Tuesday, with benchmark gas futures climbing for the second consecutive day by 3.6%, amid growing concerns over global liquefied natural gas (LNG) supplies.
According to the economic news agency Bloomberg, Europe faces a major challenge in refilling its gas storage facilities ahead of the upcoming winter, at a time when limited global supplies have become more expensive.
The benchmark Dutch front-month contract jumped to around €50.65 per megawatt-hour, while the equivalent British contract rose by about 5%, as markets reacted cautiously to geopolitical developments.
– (Petra)
