New york: Gas prices in Europe surged by 35 percent today, driven by the targeting of energy infrastructure in the Middle East. The price of the Dutch TTF gas contract, a benchmark in Europe, climbed to EUR 74 before retreating slightly.

According to Qatar News Agency, the sudden increase in gas prices is attributed to escalating tensions and disruptions in the Middle East, which have put pressure on energy supplies across Europe. The rise in prices is causing concerns among businesses and consumers about potential increases in energy costs during the upcoming winter months.

The situation has prompted European governments to consider measures to stabilize the market and secure alternative energy sources to mitigate the impact of these price hikes. Energy analysts suggest that the volatility in the market may persist as geopolitical tensions continue to influence energy supply dynamics.