OREANDA-NEWS  Exchange prices for gas in Europe have been rising by 3% since the beginning of the new week, approaching $ 900 per thousand cubic meters, according to data from the London ICE exchange.

October (upcoming) futures on the TTF index (Europe's largest distribution center located in the Netherlands) opened trading at $894.6 (+3.5%). And as of 9.08 Moscow time, the figure is 892.8 dollars (+3.3%). The dynamics of quotations is based on the estimated price of the previous trading day - $ 864.7 per thousand cubic meters.

The conflict in the Middle East has led to a significant rise in the price of gas in Europe. As a result, the average exchange prices for March increased by almost 60% compared to February, exceeding $ 600 per thousand cubic meters.

Quotes have remained volatile all these months. By the end of July, estimated prices jumped by almost 20% in monthly terms, averaging $637.5 per thousand cubic meters. And in August, during the auction, they broke the mark of $ 800 per thousand cubic meters - for the first time in five months.

Gas prices were significantly higher in 2021-2022. There have been no such consistently high prices in the entire history of gas distribution centers in Europe since 1996. And the historical record of $ 3,892 per thousand cubic meters was reached in the early spring of 2022.