The ECB said in an economic report on Monday that the sharp rise in gas prices may push up inflation in the Eurozone faster than before, but due to the increase in the share of renewable energy generation, its impact on electricity prices will be relatively small. Affected by the tightening global supply caused by the Iran war, the wholesale price of European gas, trnLTTFMC1, has soared by more than 140% compared to the same period last year; at the same time, low European inventory levels have also increased the risk of further increases in natural gas prices. According to a survey by Eurozone central banks, in more than half of the Eurozone countries, changes in the wholesale price of natural gas will be transmitted to gas inflation within one to three months, which is faster than in 2022.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.