For the first time since the invasion of Ukraine, the price of gas in Europe has risen to 97 euros per megawatt hour.

For the first time since the beginning of Russia's invasion of Ukraine, the price of gas exceeded 97 euros per megawatt-hour on the Dutch gas exchange. The price reached 97.4 euros for November deliveries, marking a 3.5% increase from the previous average. Gas prices were significantly higher in 2022, peaking at 345 euros per megawatt-hour. Energy officials discussed the situation in Budapest, noting that while there are concerns about American dependency, cooperation with the new Hungarian government is promising. Gas traders anticipate further price increases due to falling temperatures and limited LNG supplies from the Middle East. EU gas storage levels are at their lowest for this time of year since 2009, with Germany having the lowest levels in the Union.