European gas hits €81 as Sweden says supplies remain stable

European wholesale gas cost €81 per megawatt-hour on Thursday, its highest level since December 2022. North Sea oil was also close to $103 a barrel at midday.

The rise is pushing up electricity futures because much continental power is generated with gas and those prices reach Sweden, SvD reported. Bixia said this autumn’s prices were approaching the 2022 average of SEK 1.50 per kilowatt-hour.

At the same time, the Energy Agency said Sweden’s physical energy supply remained stable despite renewed Middle East tensions and reduced shipping through the Strait of Hormuz.

The conflict had not affected Sweden’s motor-fuel supply, and refineries reported normal production. Petrol and diesel availability was assessed as good over both the short and long term; aviation-fuel supply was stable for at least one month.

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