Europe sees record gas prices

Gas prices in Europe have surged to record highs, surpassing $1,070 per thousand cubic meters, marking their highest levels since late 2022. The prices for November futures increased by 2.5%, reaching $1,071. This rise is attributed to escalating tensions in the Middle East, which have significantly increased demand for gas. Consequently, March prices soared by approximately 60% compared to February, exceeding $600 per thousand cubic meters.