Gas prices in Europe rise 1.9%

European gas prices rose 1.9% at the start of Friday trading compared to Thursday's settlement price, reaching just over $419 per 1,000 cubic meters, Report informs referring to London ICE exchange.

March (nearest) futures on the TTF index (Europe's biggest hub, located in the Netherlands) opened at $420.7 (up 2.2%). They then settled at $419.2 (up 1.9%).

The price movement is based on the previous trading day's settlement price of $411.5 per 1,000 cubic meters. The average price of gas futures on the European exchange last year slightly exceeded $420, which is almost 9% higher than the previous year.