Increase in Natural Gas Prices and Its Effects

Natural gas prices have risen due to a compressor failure at Norway's Ormen Lange field. This situation is affecting energy markets across Europe.
In the Netherlands, the leading month contract at the TTF hub increased by 0.57 euros to 32.85 euros per megawatt hour. In the UK, gas prices rose by 2 pence to reach 81 pence.
Norway's total natural gas imports have dropped by 10 million cubic meters daily due to the failure, and this situation is expected to last until August 18.
This week, unusually high temperatures are expected in Northwest Europe, which will increase power demand for air conditioning.
US President Donald Trump is expected to meet with Russian President Vladimir Putin on August 15. This meeting could affect geopolitical balances.