November gas futures on the Dutch TTF exchange jumped 13 percent to €49.5 per megawatt-hour, which came down to €48 by Wednesday. The Balticconnector pipeline being out of commission also had an effect on the price of gas.
The TTF index closed on €38.2/MWh as recently as Friday.
World market gas and oil prices headed up at the start of the week on the heels of investors' fears that the conflict between Hamas and Israel might spill over to other states in the Middle East.
TTF November futures traded between €42 and €48 in September.
December futures traded at €51/MWh on Wednesday, up from €42.9 Friday.
Editor: Barbara Oja, Marcus Turovski