Warning of the possibility of continued rise in gas prices

The International Energy Agency has warned that natural gas prices may continue to rise over the next month, adding to pressure on consumers in Europe ahead of winter.

“We may still see a limited rise in gas prices in the coming days and weeks,” the agency’s executive director, Fatih Birol, said in an interview with Bloomberg TV, adding that “the most important factor here in the short term will be the conditions that will prevail during the winter season.”

Energy prices rose in Europe, the United States and Asia, as economies emerged from the Corona pandemic and consumption recovered. Gas prices in Europe have tripled this year as countries replenish their depleted reserves, which in turn has led to higher electricity costs across the continent.

“In the event of a severe winter, gas prices may continue to rise in Europe and Asia, mainly because of the very strong demand as a result of the economic recovery,” Birol said.

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