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29Sep21

Gas price in Europe surpasses $1,040 per 1,000 cubic meters

 The gas price in Europe returned to the level above $1,000 per 1,000 cubic meters during September 29 trading and surpassed $1,040 after diving to $950 on previous evening, according to data provided by the ICE exchange.

Particularly, the price of gas futures for November delivery at the TTF hub in the Netherlands has risen to around $1,045 per 1,000 cubic meters by now, with the total growth of the gas price since the beginning of the day roughly standing at 8%.

The price of futures for October delivery amounts to around $1,032 per 1,000 cubic meters.

The price of gas in Europe surpassed $1,000 per 1,000 cubic meters for the first time ever as trading opened on Tuesday. The price of futures for October delivery climbed to almost $1,040 per 1,000 cubic meters at some point at the TTF hub in the Netherlands, with the total growth of the gas price since the beginning of the day exceeding 11%.

Meanwhile the gas price may continue growing and hit new all-time highs in the event of the cold winter and the physical shortage of gas on the market, Senior Director, EMEA Oil and Gas Lead Analyst from Fitch international rating agency Dmitry Marinchenko believes.

[Source: Tass, Moscow, 29Sep21]
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