Natural gas prices in Europe surged to €97 per megawatt-hour, the highest level since 2022, on fears of winter shortages caused by conflicts in the Middle East that have left Persian Gulf liquefied natural gas flows 80% below last year's levels.

Natural gas prices in Europe surged to €97 per megawatt-hour, the highest level since 2022, on fears of winter shortages caused by conflicts in the Middle East that have left Persian Gulf liquefied natural gas flows 80% below last year's levels.