European gas hits 100 euros on supply fears
European benchmark gas prices briefly reached 100 euros per megawatt hour due to Middle East shipping disruptions and tight winter supply. High wholesale costs are impacting industry output and threaten to raise consumer bills through next year.
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European benchmark Natural Gas touched €100 per megawatt-hour on Wednesday amid Middle East supply disruptions. Prices have tripled from pre-war levels following escalation between the United States and Iran. The surge threatens energy-intensive industries and consumer bills as the heating season begins.
