Gas prices in Europe up on news from Australia

Exchange prices for gas in Europe rose by almost 12% on Monday after the opening of trading.

September (nearest) futures on the TTF index - the largest hub in Europe, located in the Netherlands - opened trading at $478.1 (+16.5 %). The previous price was $458.8 (+11.8%).

The dynamics of quotations is based on the settlement price of the previous trading day - $410.4 per thousand cubic meters.

Reuters reported earlier that the unions of the workers of the offshore gas platforms of Woodside Energy offshore Australia intend to go on strike on September 2. According to Bloomberg, possible strikes by workers at core Australian plants could jeopardize 10% of global LNG exports and provoke a sharp increase in prices.

Last week, the European Commission reported that underground gas storage facilities in the European Union were 90% full. This figure was reached much earlier than the beginning of the heating season, which starts in Europe in early October.

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