Gas prices in Europe exceed $2,900

The spot price of gas in Europe on August 22 morning continued to grow and exceeded $2,900 per 1,000 cubic meters, Report informs citing Interfax.

The price of the nearest (September) TTF futures on the ICE Futures exchange reached $2,928 per 1,000 cubic meters on August 22 afternoon.

At the same time, the most expensive - the December futures already exceeded $3,000 - it reached $3,017 per 1,000 cubic meters.

Since the beginning of August, the average price for TTF was $2,236; in July, gas was traded at an average of $1,764 per 1,000 cubic meters. The historical maximum price for gas in Europe was recorded on March 7, 2022, when at some point April futures reached $3,898.