Reference prices for gas in Europe have increased by over 20%, in the context of the conflict in the Middle East.

Reference prices for gas in Europe rose sharply this morning by over 20%, reaching 54.76 euros/MWh, amid uncertainty regarding the duration of the halt in exports from the world's largest liquefied natural gas facility, located in Qatar. This halt was caused by an Iranian drone attack, and countries in Asia are seeking alternative suppliers, which intensifies demand.

Since the closure of Friday's meeting, prices have increased by over 60%, and traders expect significant volatility in the coming days. Europe is facing depleted gas storage, which could lead to fierce competition for supply. Analysts at Goldman Sachs have raised their forecasts for gas prices in Europe, anticipating a similar increase in prices in Asian markets.