Exchange gas prices slightly rise in Europe

Exchange prices for gas in Europe slightly decreased at the beginning of trading on Thursday and were slightly above the mark of $600 per thousand cubic meters, reported from the London Stock Exchange ICE.

March (nearest) futures on the TTF index (the largest hub in Europe, located in the Netherlands) opened trading at $596.3 (-1.5%) per thousand cubic meters. Further, their value reached $600.9 (-0.7%). The dynamics of quotations are based on the settlement price of the previous trading day - $605.4 per thousand cubic meters.

Exchange gas prices in Europe on January 17 for the first time in 16 months - from August 31, 2021 - fell below $600 per thousand cubic meters. Experts noted that the price of gas on the European stock exchange is declining due to warm weather, strong winds (wind farms have increased electricity generation), and sufficient gas reserves in underground gas storage facilities of the EU.

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