Gas prices in Europe increase by 7%

On the first trading day of the week, exchange gas prices in Europe rose by 7%, exceeding $800 per thousand cubic meters, reported from the London Stock Exchange ICE.

February futures on the TTF index (the largest hub in Europe located in the Netherlands) opened trading at $773.6 per thousand cubic meters (+2%). Then their cost reached $811.4 (+7%). The dynamics of quotations stem from the settlement price of the previous trading day (Friday) - $758.5.

At the same time, on January 5, exchange prices for gas in Europe for the first time in almost 16 months - since September 10, 2021 - fell below $700 per thousand cubic meters.

Experts noted that the decline in gas prices on the European stock exchange is associated with warming and an increase in energy generation from wind. Bloomberg reported that January is expected to be the warmest in recent years. Data from the European wind energy association Wind Europe shows that energy production from wind farms in the European Union accounted for 31.6% of the total on Sunday - one of the highest levels since 2022.

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