European countries fear an energy crisis due to rising energy prices and reduced supplies amid conflicts. This was reported by TASS citing the ANSA agency.

The agency’s material notes that ongoing tensions around Iran could lead to a reduction in gas supplies. This is compounded by low inventory levels in European storage facilities and rising demand as winter approaches.

Earlier reports indicated that the price of gas on the European exchange during trading on October 28 exceeded $1,150 per 1,000 cubic meters for the first time since December 2022. The price of gas at the TTF hub reached $1,160 per 1,000 cubic meters or €100.85 per MWh. The quotes surpassed €100 per MWh for the first time in four years.

The rise in energy prices has already led to a record increase in inflation in the European Union. This factor is one of the main drivers of public discontent and escalating social tension, which manifests in widespread strikes and protest actions.