The Price of Gas in Europe has Increased to $950 Per Thousand Cubic Meters
OREANDA-NEWS. The price of gas in Europe has broken another record, reaching $950 per thousand cubic meters for the first time in history. This is evidenced by the data of ICE Futures trading. The price of the October futures on the Dutch TTF index at 09:35 (Moscow time) was $841.39 per thousand cubic meters. By 10:21, it had increased to $851.27, and at 10:46 it exceeded $875.84. An hour later, it exceeded the $900 mark and thus grew by 20% immediately during the day.
Earlier, the expert linked the record increase in the cost of natural gas in Europe with the «panic on the stock exchange». He noted that the main factors for the growth of indicators are even higher quotations in Asia, which is why «all liquefied natural gas (LNG) goes there», provoking a shortage in Europe and possible problems in the upcoming heating season. He did not rule out that the price of raw materials will reach $1000 per thousand cubic meters.
Stanislav Mitrakhovich, a lecturer at the Financial University under the Government of the Russian Federation, said that the European Union, through its struggle with Russian gas, has brought the prices of raw materials for Europe to high values. At the same time, the current situation may be delayed.