Gas futures prices in Europe continue to rise .. and set a new record

Gas futures prices in Europe reached a new all-time high, exceeding $1,200 per thousand cubic meters for the first time, according to trading data on InterContinental Exchange Futures.

The cost of the November futures contract on the Dutch TTF index, minutes after the opening of trading today, exceeded a record level of $1,200 per thousand cubic meters, as the maximum start of trading was recorded at $1228.8, as the Russian Sputnik agency signed.

And yesterday, before breaking the record of $1,200 per 1,000 cubic metres, gas prices in Europe fell sharply after the news that the Danish Energy Agency had agreed to start testing the first track of the “Northern Stream 2” gas pipeline and in less than an hour, prices fell November futures contracts in the Dutch TTF index, by about $70, fell to $1,124 per thousand cubic metres.

Experts expect that the flow of Russian gas through the “North Stream 2” pipeline will contribute to stabilizing gas prices in Europe.

Since the spring of 2021, gas prices in Europe have jumped in an unprecedented manner, due to the decline in reserves in European gas storage facilities, as well as the acute shortage of liquefied natural gas, and the high demand for it in Asia.

Read also What is behind the crazy rise in LNG prices?

Source

Gas futures prices Europe continue rise set record

 
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