empty
EU has to adjust to soaring gas prices

EU has to adjust to soaring gas prices

Europe has to deal with a grueling challenge. In early January, gas prices in the EU are still skyrocketing. Natural gas prices in the EU remain elevated, standing at $500 per 1,000 cubic meters, which is 50% higher than in January 2024. By mid-year, they are expected to rise further to $540 per 1,000 cubic meters!

In the first days of January 2025, gas prices fluctuated between $480 and $540 per 1,000 cubic meters. Since January 9, prices at the TTF hub in the Netherlands have ranged between $468 and $485 per 1,000 cubic meters. For context, in January 2024, natural gas prices did not exceed $344–$362 per 1,000 cubic meters.

According to analysts, the rise in gas prices in Europe is due to several factors: cold weather, increased withdrawal of LNG from underground storage, and reduced transit of Russian gas through Ukraine starting from January 1, 2025. Additional pressure comes from a decline in wind power generation. Data from Gas Infrastructure Europe shows that as of January 7, 2025, gas storage levels were estimated at 68.8%, compared to 84.1% a year earlier.

Analysts warn of a further rally in natural gas prices this year. By mid-year, gas prices in the EU could surge to $540 per 1,000 cubic meters. As for year-end forecasts, LNG prices are expected to range from $420 to $480 per 1,000 cubic meters.

Back

See aslo

See Also

Can't speak right now?
Ask your question in the chat.
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.

We are sorry for any inconvenience caused by this message.