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Gas Prices Surged to a Three Week High in Europe: Here’s What Caused it.

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Gas prices rose in Europe at auction yesterday, on Monday, to a maximum level for 3 weeks, as contracts for blue fuel touched the mark of $600 per thousand cubic meters.

Spot gas contracts continued to rise on Monday, rising 9%, and contracts were closed at the TTF center in the Netherlands at $588 per thousand cubic meters, the highest level in 22 days.

Three factors contributed to the increase in blue fuel prices in European markets: cooler temperatures in the region, lower wind power generation and higher oil prices.

Source: Interfax

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