Gas prices tumble after spike amid gas leak in Norway

Exchange prices for gas in Europe fell to $296 per thousand cubic meters during the day after a sharp increase. In the morning, they rose by 9.2% after reports of a gas leak in Norway, Report informs with reference to the London ICE exchange.

Earlier today, on May 31, the Norwegian company Equinor reported that the Hammerfest LNG plant stopped work due to a gas leak on the island of Melkoya. All plant employees were evacuated. The extent of the gas leak is still unknown. After that, the price for the July futures on the TTF index (the largest hub in Europe, located in the Netherlands), jumped by 9.2%, amounting to $304.8 per thousand cubic meters.