The price of natural gas continued to rise, this Wednesday, 4, although at a slower pace than in previous days, registering an increase of 10% to 61.30 euros per megawatt-hour (MWh), according to data from Bloomberg.
On Tuesday, gas had already closed with a significant increase of almost 22%, reaching 54.29 euros.
On Monday, gas prices immediately shot up 40.81%.
This increase was a consequence of increased tensions in the Middle East and the suspension of liquefied natural gas (LNG) production by Qatar Energy, a Qatari state company, due to security concerns following an attack on two of its facilities.
Also today, the price of Brent oil rose slightly more than 2% at the opening, accumulating an increase of more than 12% in the last three trading sessions, in the wake of the conflict in the Middle East.
According to Bloomberg data analyzed by the Spanish news agency EFE, at 7:15 am (6:15 am Lisbon time), Brent oil rose 2.21%, reaching 83.20 dollars per barrel.
On Saturday, the United States and Israel launched a joint offensive against Iran, which responded with attacks in other regions, extending the conflict to the entire Middle East and increasing fears of a blockage in the Strait of Hormuz, a crucial waterway for oil and gas traffic.
US President Donald Trump stated that the operation aims to “eliminate imminent threats” from Iran and Israeli Prime Minister Benjamin Netanyahu justified joint action against what he classified as an “existential threat”.
Iran’s supreme leader since 1989, Ayatollah Ali Khamenei, was killed during the offensive, with the country declaring a 40-day mourning period.
According to the Iranian Red Crescent, attacks by Israel and the United States have killed 787 people since Saturday. The United States Army confirmed the deaths of six American soldiers.
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