ECONOMY, EU

European gas price rises 5 per cent

The European gas price rose by 5 per cent on Monday morning to 62.3 euros per megawatt-hour, as tensions surrounding the Strait of Hormuz continue to escalate.

The United States has issued an ultimatum to Iran over the reopening of the strategic waterway, with president Donald Trump threatening to target power plants in the country.

Since the start of the Israeli-American war against Iran in late February, European gas prices have nearly doubled.


​© PHOTO HANS LUCAS COLLECTION

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