Gas prices rising in Europe

Gas prices rising in Europe
Gas prices rising in Europe

November futures price for gas in Europe has risen by almost 1% in the last 24 hours, data from ICE Futures reveals.

The cost of November gas futures at the TTF hub in the Netherlands was $ 1,085.5 per thousand cubic meters, and then slightly adjusted and is currently at the $ 1072, $ 5 mark.

Gas prices in Europe have risen sharply in recent months. As early as the beginning of August, a thousand cubic meters of gas was traded at $ 515 per thousand cubic meters at the TTF hub in the Netherlands, a figure that doubled by the end of September.

EU Commissioner for Labor and Social Rights Nicholas Schmidt said that millions of people might be impoverished due to an extremely high gas and electricity prices in Europe.

European countries began extracting natural gas from underground reservoirs last week.

Before the winter season, stocks reached a record low of 77.13% for the first time.

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 to increase exports to Europe.

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