In Europe, gas is more expensive because of the war in Israel - Bloomberg
5% to 51 euros per megawatt-hour (about $ 570 per thousand cubic meters). Prices are approximately 35% higher than before the attack on October 7 on Israel by Hamas, which the United States and the European Union were recognized as a terrorist organization. In addition, it is noted that fears are growing that the US can be drawn into a wider regional war in the Middle East.
Pentagon stated that the United States was watching the strengthening of drones in Iraq and Syria, while the American destroyer intercepted the winged rockets issued by Hussite fighters in Yemen. President Joe Biden also addressed the American people. He asked to support Israel funding as well as Ukraine's military efforts.
According to the publication, the war in Israel has already led to the closure of the large field of Egypt, which raises the issue of exports of liquefied natural gas from this North African country. The share of Egypt in gas supply to Europe is negligible, but the wider conflict and potential intervention of Iran can also increase the risks to the safety of CDGs passing through the Ormouz Strait.
It is known that this week Energy Aspects Ltd stated that the greatest risk to the European and global balance is associated with the potential escalation of the conflict between Hamas and Israel with the involvement of Iran and the emergence of tension in the use of the Ormuza Strait. Bruegel's analytical center believes that such intervention can also increase the risks of safety of international gas pipelines in the region.