Gas prices in Europe grow 5%

Exchange prices for gas in Europe began to grow by 5% and exceeded $600 per 1,000 cubic meters for the first time since March 10, Report informs referring to the London ICE exchange.

November (nearest) futures for the TTF index (Europe’s biggest hub, located in the Netherlands) opened trading at $556.1 (-4.3%) per 1,000 cubic meters. Then they amounted to $610.2 (+5%).

The dynamics of quotes are based on the settlement price of the previous trading day - $580.9 per 1,000 cubic meters.

On October 12, quotes jumped by 15%, to $580 per 1,000 cubic meters.

At the same time, gas prices in Europe accelerated their growth on October 10, after leading Finnish media reported about the upcoming emergency press conference of the Finnish government on the situation with the leak on the Balticconnector gas pipeline. As a result of trading, prices then jumped by 14%, exceeding $540 per 1,000 cubic meters.