European natural gas futures prices on Monday surged to their highest level since late 2022 driven by renewed Middle East tensions and concerns over dropping energy supplies.
The Dutch TTF Natural Gas Futures, the benchmark for European gas, exceeded 84 euros per megawatt-hour, its highest level since late 2022, on the day.
Investors are concerned that ongoing tensions in the Middle East and obstacles to energy shipments through the Strait of Hormuz could trigger prolonged disruptions to supplies of liquefied natural gas (LNG) from the Middle East.
Industry insiders warn that factors such as lower-than-expected winter temperatures and insufficient electricity supply generated by renewable energy will likely put more pressure on Europe's energy market.
The International Energy Agency (IEA) said last week that recent supply crises had exposed vulnerabilities in global gas markets, warning that competition for limited LNG cargoes during periods of acute stress could lead to extreme price volatility and significant economic impacts.
European natural gas futures prices surge high
History cannot be distorted and the historical truths must be conveyed to young Japanese people to avoid repeating the same mistakes, said former Japanese Prime Minister Yukio Hatoyama in Beijing on Tuesday.
"Japanese schools rarely teach the history of war. As a result, an increasing number of young people are unaware of these facts. Japan once invaded China and colonized the Korean Peninsula. It is worrisome that more and more young people are unaware of these facts. I believe this is a very serious issue. Our generation should clearly convey the historical truth to young people, clearly and firmly explaining the crimes and mistakes Japan committed in the past, so that they understand these and we can prevent such mistakes from happening again," he said in an exclusive interview with China Radio International (CRI) on the sidelines of the ongoing Beijing Xiangshan Forum which opened on Tuesday.
The three-day Beijing Xiangshan Forum, themed "Build Consensus on Stability, Advance Security Governance Together", features four plenary sessions and eight parallel sessions.
Launched in 2006 as a "track-two" think-tank exchange, the Beijing Xiangshan Forum has expanded over the past two decades to bring together government officials, military leaders and scholars from around the world.
Japanese youths must be told historical truths to avoid making same mistakes: former Japanese PM
