By the end of the last trading day, the prices of the nearest gas futures in Europe increased by 6.5% and amounted to 1 119 USD per thousand cubic meters. Data from ICE Futures evidence this.
The value of January futures for gas at the TTF hub in the Netherlands was $ 1,104 per thousand cubic meters when the market opened and grew steadily by 5-6% during the trading day. The price of gas reached a maximum of $ 1,128, while the minimum price reached $ 1,086.
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.