Home Economy Colder temperatures drive up gas prices (infographic)

Colder temperatures drive up gas prices (infographic)

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Cold temperatures are pushing up gas prices in Europe. The cold snap is expected to continue for several weeks.

While Europe enjoyed mild temperatures in October and much of November, temperatures have dropped in recent days. It is colder than normal and this should continue for at least two more weeks. A weather that leads to increased demand for natural gas, leading to higher prices. The natural gas market has tightened since Europe no longer relies on the Russian gas pipeline.

Read also | Liquefied gas, the new European Holy Grail… which comes massively from Russia (analysis)

On the Dutch futures market – the main one for Europe – the price of gas rose by more than 9% to reach 148 euros per megawatt hour on Monday. It was at €100 less than three weeks ago. The current price is still well below the August peak, but still very high, at least four times more expensive than normal.

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