# Why are global gas prices so high?

> European gas prices are about ten times their decade average, with UK gas reaching 537p per therm in August. The rise follows post-Covid demand recovery, the Russian invasion of Ukraine, EU efforts to cut Russian imports, and Gazprom suspending deliveries to several European countries over non-payment.

- Date: 2022-08-25 · published 2022-08-25T12:00:00.000Z
- Category: macro · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/40207-why-are-global-gas-prices-so-high
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

Expensive European gas is squeezing fertilizer output and raising energy costs across agriculture, supporting higher nitrogen fertilizer and feed production costs.

## Read by commodity

- UREA: bullish ▲
- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2021-10-22 | [Global Gas Prices are Soaring to Record Highs. Here's Why.](https://feedsoft.ai/events/11751-global-gas-prices-are-soaring-to-record-highs-here-s-why.md) | +14.0% | -2.0% |
| NATGAS | 2021-09-25 | [Global Natural Gas Prices Are Soaring : NPR](https://feedsoft.ai/events/7926-global-natural-gas-prices-are-soaring-npr.md) | +9.7% | +1.4% |
| NATGAS | 2021-09-30 | [Oxford Energy Podcast - Why are gas prices so high? - Oxford Institute for Energy Studies](https://feedsoft.ai/events/45224-oxford-energy-podcast-why-are-gas-prices-so-high-oxford-institute-for-energy.md) | +4.2% | +8.1% |
| NATGAS | 2021-08-01 | [Global Gas Prices Rally Amid Strong Demand](https://feedsoft.ai/events/46256-global-gas-prices-rally-amid-strong-demand.md) | +6.3% | +11.0% |
| NATGAS | 2021-09-28 | [U.S. natgas rise to 7-year high on record global prices](https://feedsoft.ai/events/7925-u-s-natgas-rise-to-7-year-high-on-record-global-prices.md) | +2.9% | +3.4% |
| UREA | 2021-09-25 | [Global Natural Gas Prices Are Soaring : NPR](https://feedsoft.ai/events/7926-global-natural-gas-prices-are-soaring-npr.md) | +27.6% | +32.7% |
| UREA | 2021-09-28 | [U.S. natgas rise to 7-year high on record global prices](https://feedsoft.ai/events/7925-u-s-natgas-rise-to-7-year-high-on-record-global-prices.md) | +28.4% | +33.3% |
| UREA | 2021-09-22 | [Nitrogen prices soar as high gas prices shut down production - Farmers Weekly](https://feedsoft.ai/events/45383-nitrogen-prices-soar-as-high-gas-prices-shut-down-production-farmers-weekly.md) | +2.2% | +39.6% |

## Sources

- bbc.com: https://www.bbc.com/news/explainers-62644537

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.