Exchange gas prices in Europe fall slightly

Gas futures in Europe on August 19 fell by about 0.5% compared to the settlement price on August 18, but so far remain above $2,500 per 1,000 cubic meters, Report informs referring to the London Stock Exchange ICE.

Futures contracts for the supply of gas in September (according to the index of the largest European hub TTF) opened trading in the red, at the level of $2,470.2 (-1.9%). Prices then declined 0.5% to $2,503.9. The dynamics of quotations is based on the settlement price of the previous day - $2,516.9.

The average monthly settlement price of the nearest gas futures on ICE in July jumped by almost 50% - to about $1,805 per 1,000 cubic meters from $1,180 in June, while in the middle of last summer it did not exceed $500.

From August 1 to August 19, the average gas price almost reached $2,200, which is 22% higher than the July quotes, and 86% more than in the first month of summer. Such persistently high prices have not been seen in the entire history of the operation of gas hubs in Europe - since 1996.