Middle East conflict spikes EU gas prices to early 2023 levels
EU gas prices surged 59% in March due to the Middle East conflict, exceeding $600 for the first time since February 2023, based on ICE exchange data.
The conflict in the Middle East has once again made the European Union an energy hostage, driving gas prices to levels not seen since early 2023. According to Sputnik calculations based on data from the London ICE exchange, average gas prices on European stock markets rose by 59% in March compared to February, fueled by the worsening situation in the Middle East. This increase has pushed prices above $600 for the first time since February 2023, marking a significant uptick after months of relative stability. The EU's energy dependence is thus once again exposed to geopolitical tensions, with implications for the region's economy and supply security.
