Gas prices in Europe rise as oil prices climb
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Gas prices in Europe rose on Friday morning, tracking gains in oil markets after US President Donald Trump said his patience with Iran was running out, raising fears of renewed conflict.
Data from the Intercontinental Exchange showed that the front-month contract for gas in the Netherlands, traded on the TTF hub, rose €1.435 to €49.09 per megawatt-hour, or about $16.74 per million British thermal units (MMBtu).
The data also showed that the UK contract for June rose 4.25 pence to 121.03 pence per MMBtu. (Reuters)
Rising oil prices are a contributing factor to higher gas prices, as many liquefied natural gas (LNG) and pipeline gas contracts are linked to oil prices.
Original source: Maaal
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