The natural gas market in Europe is witnessing a noticeable rise in prices driven by a combination of factors, most notably supply concerns against the backdrop of the Asian heat wave and the possibility of a hurricane in the United States.

Futures contracts, which are a leading indicator of gas prices in Europe, rose 1.7%.

In general, gas prices have increased by more than 20% since the start of the storage season last April.

Despite the good stocks that Europe currently has, global market disturbances are affecting the scene, and these disturbances include unexpected supply interruptions and high demand for gas to operate air conditioners in some areas.

As for supplies, the market is closely monitoring the possibility that Hurricane Beryl, expected to reach the Texas coast, will disrupt LNG operations there.

On the other hand, high temperatures in Asia contribute to increasing demand for gas to generate electricity, which puts additional pressure on the market.

Analysts expect the market to remain volatile in the coming weeks, anticipating the impact of weather factors and developments in production operations on prices.