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Gas on a stove: Tensions cause gas prices to rise again
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Angelika Warmuth/ dpa
The price of European natural gas has risen again amid renewed tensions between Russia and the West.
On Wednesday morning, the price of the TTF futures contract for Dutch natural gas rose by around nine percent to around 213 euros per megawatt hour.
The TTF contract serves as a guideline for the European price level.
The price had tended to fall since mid-September, albeit from a high level.
At midday, the price fell back a bit and was quoted at 208 euros.
The trigger for the price increase could be the declaration of partial mobilization by Russian President Vladimir Putin because of the Ukraine war.
The news that the federal government wants to largely nationalize the energy company Uniper, which is suffering from the gas crisis, should also play a role.
Nevertheless, the uncertainty on the markets with regard to energy supply appears to be far less than at other times this year.
At its current level, the price is far lower than it was right after the outbreak of the Ukraine war.
At the beginning of March, it had reached a peak above the 300 euro mark.
Around two weeks ago, the gas price had skyrocketed towards 300 euros due to the delivery stop via the important Nord Stream 1 pipeline.
The gas storage facilities in Germany are currently about 90 percent full.
Oil prices also reacted to the announcement of partial mobilization in Russia with a price increase.
Around noon, a barrel (159 liters) of North Sea Brent cost $92.76, $2.14 more than the day before.
The price of a barrel of US West Texas Intermediate (WTI) grade rose $2.12 to $86.06.
Meanwhile, Mexico offered Germany closer cooperation on LPG.
Mexican President Andrés Manuel López Obrador had offered him closer cooperation, said Federal President Frank-Walter Steinmeier after talks in Mexico City.
sol/dpa
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