Gas touches 97 euros, its highest price since 2022
Gas in Europe is now twelve times more expensive than in the US. Prices could stay high throughout 2027.
The European gas price climbed to 97 euros per megawatt hour on Monday, its highest level since the 2022 energy crisis, De Standaard reports in its economy liveblog. Het Nieuwsblad points out that gas in Europe is now twelve times more expensive than in the US, putting energy-intensive industry under pressure. Consumers should expect prices to stay high throughout 2027.
Oil is not getting cheaper either. Oil exports from the Middle East are back at pre-war levels and the US military says it has escorted more than 3,000 ships through the Strait of Hormuz, but crude remains expensive amid fears of a fresh escalation, VRT NWS writes.
Supply concerns extend to Zeebrugge: the British want to spend 175 million euros to ensure that an undersea pipeline from Zeebrugge can send more gas to the island in extreme circumstances, De Tijd reported.