Gas price in Europe has broken a psychological milestone

Photo: Reuters (archive)

Gas prices continue to rise with the onset of autumn

Gas rises in price against the background of low reserves in underground storage facilities in Europe with a reduction in supplies from Russia.

The price of the October futures on the TTF spot gas index on the ICE Futures exchange has exceeded the psychological mark of $ 700 per thousand cubic meters, as evidenced by data exchanges on Thursday 9 September.

The price of the futures at the beginning of trading was $ 679 per thousand cubic meters, during the day it was corrected to $ 696, and in the evening it reached a maximum of $ 700.2.

The previous record was broken the day before. Then the value of the contract reached the $ 670 mark… And a day earlier, on Tuesday, the figure exceeded $ 660.

Gas rises in price against the background of low reserves in underground storage facilities in Europe with a reduction in supplies from Russia. A little more than a month remains before the start of the heating season, and European UGS facilities are less than 70% filled, which is 15% less than the average level over the past five years.

As a reminder, Gazprom stated that see no prerequisites for lower prices for natural gas in Europe.

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