Gas prices in Europe rise slightly

Gas prices in Europe at the beginning of trading on May 6 were trading at $1,160-$1,185 per 1,000 cubic meters, having increased by an average of 0.4% compared to the settlement price on May 5, reported from the London Stock Exchange ICE.

The price of June gas futures on the index of the largest European hub TTF at the opening of the trading session amounted to $1,161. Shortly after the start of trading, prices slightly increased and reached $1,183.

Gas prices in Europe jumped sharply after the outbreak of hostilities in Ukraine. In early March, due to fears of a ban on the import of Russian energy resources, prices renewed their historical highs for four days in a row. The price record of $3,892 was reached on March 7, and the settlement price for the day was $2,560.

But then the prices declined, and the minimum settlement price for two months was on April 25 - $1,027.1 per 1,000 cubic meters. After that, gas futures went up again and reached $1,370 per 1,000 cubic meters. The new sharp rise in prices was associated with the suspension of Gazprom’s deliveries to Poland and Bulgaria due to their refusal to pay for gas in rubles.

www.anews.az