European gas continues to rise, approaching 100 euros per megawatt-hour, and the market is worried that the region will once again experience an energy crisis after entering the peak demand season. Benchmark futures rebounded from a brief pullback from the previous trading day, with the biggest increase of 3.7%, breaking through €99 per megawatt hour for the first time since late 2022. The market is concerned that the escalation of the Iran conflict may further tighten global gas supply, compounded by low European inventories and rising demand for heating in the northern hemisphere, which will jointly drive the recent sharp rise in prices. Sources said that the US has notified several Persian Gulf countries to prepare for a short and intense military operation after the midterm elections, and oil prices are rising at the same time.

European gas continues to rise, approaching 100 euros per megawatt-hour, and the market is worried that the region will once again experience an energy crisis after entering the peak demand season. Benchmark futures rebounded from a brief pullback from the previous trading day, with the biggest increase of 3.7%, breaking through €99 per megawatt hour for the first time since late 2022. The market is concerned that the escalation of the Iran conflict may further tighten global gas supply, compounded by low European inventories and rising demand for heating in the northern hemisphere, which will jointly drive the recent sharp rise in prices. Sources said that the US has notified several Persian Gulf countries to prepare for a short and intense military operation after the midterm elections, and oil prices are rising at the same time.