Gas price increases by 3% in Europe

The cost of gas futures with delivery in December rose by 3% on Tuesday, reported from the London Stock Exchange ICE.

Trades opened at around $1,330. Futures prices then reached $1,372.9.

The dynamics of quotations are based on the settlement price of the previous trading day - $1,332 per thousand cubic meters.

Gas prices in Europe rose significantly in the spring of 2021 when the spot price on the TTF hub index fluctuated in the range of $250-$300 per thousand cubic meters. At the end of the summer, the figure exceeded $600, and in the fall, it was already $1,000. The sharp rise in prices continued into 2022.

In early March, due to fears of a ban on imports of Russian energy resources, gas contracts for delivery in the next month reached a record high of $3,892 per thousand cubic meters.





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