This price increase is observed against the backdrop of a tense situation in the Middle East and rising oil prices.
The cost of the April futures at the TTF gas hub in the Netherlands reached approximately $820 per thousand cubic meters, which is more than a 27 percent increase since the beginning of the trading day.
Brent crude oil was trading at $119.36 per barrel this morning, which is 28.77 percent higher compared to previous values.
It was previously reported about attacks on several oil storage facilities in Iran carried out by Israel. In this regard, Bahrain Bapco Energies declared force majeure, mentioning the situation in the region and a recent strike on one of its energy facilities.
In response to the Iranian attacks, Qatar also suspended liquefied natural gas production at the world's largest plant. QatarEnergy halted LNG production following strikes on infrastructure in the industrial cities of Ras Laffan and Mesaieed. The company confirmed that the attacks affected operational production facilities. QatarEnergy is a leading LNG producer, accounting for nearly 20 percent of global production.
The rise in natural gas prices in Europe is linked to the deteriorating situation in the Middle East.
