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12Oct21

Gas prices in Europe renew skyrocketing spike past $1,200

Gas price on the ICE exchange started to grow once again after falling below $1,000 per 1,000 cubic meters and has already surpassed $1,200 per 1,000 cubic meters.

Earlier on Thursday, the futures price dropped from $1,250 to $973 per $1,000 cubic meters. However, the growing dynamics returned later and by 13:40 Moscow time, the price for November TTF futures exceeded $1,220 per 1,000 cubic meters.

The high volatility of prices on the European gas market is associated with low reserves of gas storage facilities ahead of winter.

[Source: Tass, Moscow, 07Oct21]
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