European gas prices hit one-year high amid intensifying Ukraine war

European natural gas prices are rocking again as the war in Ukraine intensifies.

According to the TTF gas futures exchange in the Netherlands on the 21st, natural gas December closed at 48.640 euros (about 71,395 won) per megawatt hour (MWh), up 3.94% from the previous day.

It is the first time in a year that natural gas futures have topped 48 euros on the TTF exchange since November last year.

European natural gas prices soared above 300 euros (about 440,000 won) in August 2022 due to supply disruptions following the war in Ukraine, before falling to the low $20 range in February this year.

Since then, it has soared for a while during Ukraine's invasion of Russia's Kursk in August, but has recently risen again as the situation intensifies due to the dispatch of North Korean troops and the lifting of restrictions on the use of ATACMS missiles by the U.S.