Gas prices in Europe up by over 15%

The price of gas on the European market has exceeded $1,000 per thousand cubic meters, Report informs via the London Stock Exchange ICE.

At the start of trading on Thursday, the price of gas futures on the index of the largest European hub TTF was slightly above $970, which is 10.8% higher than the settlement price of Wednesday ($878.5). In the first hour of the trading session, quotes grew by about 12%-13%, and then accelerated the growth rate to 15.9%. The price maximum was $1,017.9.

The $1,000 milestone was last passed on June 1.

One of the largest US LNG plants Freeport LNG will be closed for at least three weeks after the explosion at the plant. Freeport LNG provides about 20% of LNG processing in the country.