During the last trading day, the oil price on the European market increased by 7% and exceeded $ 1,200 per thousand cubic meters—data from the ICE of the London Stock Exchange proves the information.
January futures price for gas at the end of trading at the Dutch TTF hub was $ 1,204.5 per thousand cubic meters.
Gas prices in Europe have risen sharply in recent months. As early as the beginning of August, a thousand cubic meters of gas traded at $ 515 at the TTF hub in the Netherlands, a figure that doubled by the end of September.
According to the Financial Times, one of the reasons for the increase in gas prices is that Gazprom refused to supply additional volumes through Ukraine, aimed at increasing exports to Europe.
