Gas prices in Europe exceed $500 for first time since August 22

Exchange prices for gas in Europe rose by 6% on October 10 morning, exceeding $500 per 1,000 cubic meters for the first time since August 22, reported from the London ICE exchange.

November (nearest) futures on the TTF index (the biggest hub in Europe, located in the Netherlands) opened trading at $487.8 (+2.2%) per 1,000 cubic meters. Then their price amounted to $507.7 (+6.4%).

The dynamics of quotes are based on the settlement price of the previous trading day - $477.2 per thousand cubic meters.


The reasons for the rise in exchange prices for gas in Europe in September could be traders’ expectations of a decrease in supplies of liquefied natural gas (LNG) from Australia due to strikes at large plants in the country, as well as gas from Norway.





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