European gas prices surge past $340 per 1,000 cubic meters

European gas exchange prices rose 1.3%, reaching $340 per 1,000 cubic meters.

According to Report, citing data from the London-based ICE exchange, February futures for the TTF index (Europe's largest hub, located in the Netherlands) opened at $343.7 (+1.1%) and later climbed to $344.2 (+1.3%).

The price movement is calculated based on the previous trading day's settlement price of $339.9 per 1,000 cubic meters.

The average price of European gas futures over the past year slightly exceeded $420, nearly 9% higher than a year earlier.