Gas prices in Europe exceed $800 per 1,000 cubic meters

Gas futures prices in Europe against the background of declining supplies from Russia through the Yamal-Europe pipeline grew 5.6% at the opening of trading, just above $880 per 1,000 cubic meters, Report informs referring to ICE Futures data.

The value of December gas futures according to the Dutch TTF index, the most liquid European hub, at the opening of trading amounted to $858.3, then rose to $880.5, which is 5.6% higher than the settlement price of the previous trading day.

Gas prices in Europe rose sharply in late summer and early autumn. Experts linked the rise in gas prices in Europe to several factors: the low level of occupancy of European underground storage facilities, limited offer from the main suppliers and high demand for liquefied natural gas in Asia.

The all-time high of $1,937 was reached on October 6, after which gas prices began to decline.