Gas prices in Europe exceeded $ 1,000 per cubic meter

For the first time since September, European gas on the exchange exceeded $ 1,000 per thousand cubic meters. On Tuesday, quotes approached levels that are considered the highest since 2022. This is evidenced by the London ICE.

Futures for November on the TTF index - Europe's largest distribution center located in the Netherlands - opened at $971.7 (-0.4%). By 15:40 GMT, they reached $1005.2 (+3%). The starting point was the estimated price of the previous trading day - $ 975.7.

A significant increase in the cost of gas in Europe provoked conflict in the Middle East. Average stock prices in March were almost 60% higher than February and exceeded $ 600 per thousand cubic meters.

Quotes remain volatile throughout these months. In July, estimated prices jumped by about 20% in monthly terms, the average was 637.5 dollars. August gave an average price of 745.4 dollars, which is 17% more than in July. In September, the figure reached $ 897.1 - 20% higher than the August level.

In early September, quotes overcame $ 900, and in the middle of the month briefly reached $ 1000. Higher values were recorded in 2021-2022. There has been no such consistently expensive gas in the history of European distribution centers since 1996. The historical record - 3892 dollars per thousand cubic meters - was set in early spring 2022.

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