Gas prices in Europe exceed $1,250 per 1,000 cu. m

The price of gas in Europe amounted to $1,270 per 1,000 cubic meters, Report informs referring to the trading data of the London ICE Stock Exchange. In the morning, the gas was traded in the range of $1,250-1,270 per 1,000 cubic meters, gradually falling to $1,250.

The cost of gas in Europe has recently shown strong volatility. It rose sharply after the outbreak of hostilities in Ukraine.

In early March, amid fears of a ban on the export of Russian energy resources, gas prices renewed their historical highs for four days in a row, after which they fell by more than three times by the middle of the month. On March 7, futures contracts were trading at almost $3,900, and by March 21, gas quotes fell below $1,100. The day-ahead spot price also showed volatility, peaking at $2,425 on March 7 and more than halving to $1,050 on March 21.