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Gas prices in Europe jump as geopolitical risks return

Gas prices in Europe jump as geopolitical risks return
There are fears that any EU cap will send gas to higher bidders in Asia and result in bloc-wide shortages (AFP file photo via Getty Images)
By JT | 16:19 June 13, 2025 |
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AMMAN — Natural gas prices have soared in Europe as geopolitical risks return in the Middle East after Israel launched a wave of strikes on Iran, raising fears of a "wider" war in a region central to global energy supplies, the Jordan News Agency, Petra, reported.

Benchmark future contracts jumped 5.7 per cent on Friday, recording the "biggest" rise in more than five weeks, according to Bloomberg.

Dutch future contracts for next month's delivery — the European gas standard — were trading up 3.23 per cent at 37.34 euros per megawatt-hour at 9:12 am in Amsterdam.

Electricity future contracts in Europe have also risen, with next year's German contract jumping to its "highest" level since February, according to data from the European Energy Exchange (EEX).

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