Gas price reaches $1,230 in Europe 

The price of gas in Europe again rose above $1,200 per 1,000 cubic meters during trading on the London International Currency Exchange (ICE) and reached almost $1,230, according to the ICE data, Report informs citing TASS.

November futures at the Dutch TTF (gas trading platform) rose to $1,229.4 per 1,000 cubic meters, or 102.5 euros per MWh (based on the current EUR/USD exchange rate, ICE prices are presented in EUR per MWh).

By now, the price of gas has somewhat slowed down its growth and is at the level of $1,208 per 1,000 cubic meters. The overall price increase since the beginning of the day is about 7.6 percent.

Earlier, Russian Deputy Prime Minister Alexander Novak, on the sidelines of the ‘Russian Energy Week’, said that the European partners have not yet applied through the government with a request to increase gas supplies.

TTF set an all-time high on October 6, when the gas price exceeded $1,900 per 1,000 cubic meters, but then began to decline rapidly.

The high volatility of prices on the European gas market is related, among other things, to the low occupancy of gas storage facilities ahead of the coming winter.