According to data from the ICE Futures exchange, gas prices in Europe opened trading with a slight increase.
So, the nearest futures on the Dutch TTF index (the most liquid European hub) started at $ 1,247.4 per thousand cubic meters and by 9:24 had grown to $ 1,249.8. This is two percent higher than the estimated price of the previous day.
The day before, the auction closed at a level slightly above $ 1,210; the estimated price was $ 1,225.5 per thousand cubic meters.
In recent months, the European gas market has been experiencing significant fluctuations. Back in early August, futures were trading at $ 515 per thousand cubic meters, but by the end of September, they had more than doubled, and on October 6, they jumped to a historic high of $ 1,937. A decline followed this, but prices continued to stay at a high level.
Experts explain this situation by several factors: the low occupancy level of European underground gas storage facilities, limited supply from major suppliers, and high demand for LNG in Asia.