The price of gas futures in Europe rose to almost $ 1,040 per thousand cubic meters
The price of November gas futures in Europe at the beginning of trading on Wednesday is growing by more than 5%, reaching almost $ 1,040 per thousand cubic meters, according to trading data on ICE Futures.
The cost of November gas futures according to the Dutch TTF index, the most liquid European hub, at the opening of trading slightly exceeded $ 1,100 per thousand cubic meters, and at 9.36 Moscow time it is $ 1139.5 per thousand cubic meters, which is 5.6% higher than the estimated price on Tuesday.
The dynamics of futures is calculated on the exchange from the settlement price of the previous trading day. On Tuesday, trading closed at almost $ 1,095 per thousand cubic meters, and the estimated price was $ 1,078.7.
Gas prices in Europe have risen sharply in recent months. Back in early August, the estimated price of the nearest future on the Dutch TTF index was about $ 515 per thousand cubic meters, and by the end of September the figure had more than doubled. At the same time, since October 6, having reached a historical maximum of 1937 dollars per thousand cubic meters, gas prices on the world market began to decline.
Experts attribute the rise in gas prices in Europe to several factors: the low occupancy rate of European underground gas storage facilities (UGS), limited supply from major suppliers and high demand for LNG in Asia.