Gas prices in Europe have hit a four-month high as the escalating conflict in the Middle East raises fears of supply shortages this winter. This is reported by The Guardian.

European gas storage facilities are currently less than 54% full, compared with 64% at the same time last year.

Since the start of the conflict on February 28, only 26 liquefied natural gas cargoes from the Persian Gulf have managed to cross the border eastward, whereas the usual figure is between 90 and 100 cargoes per month.