OREANDA-NEWS Exchange prices for gas in Europe jumped by 15% at the end of Tuesday's trading, exceeding $ 450 per thousand cubic meters, according to data from the London ICE exchange.

September (upcoming) futures on the TTF index (Europe's largest hub located in the Netherlands) opened trading at $426.2 (+8.8%) per thousand cubic meters. The price minimum was $400.1 (+2.2%), the price maximum was $457.5 (+16.8%). The latest futures were trading at $451.9 (+15.4%). The dynamics of quotations is given from the estimated price of the previous trading day - $ 391.7 per thousand cubic meters.

These quotes last Wednesday, for the first time since June 21, have already crossed the threshold of $ 450 per thousand cubic meters and during the auction rose to almost $ 500.

Experts explained that the increase in exchange prices for gas in Europe is temporary, due to the expectations of heat and weak winds, as well as the risks of temporary suspension of supplies of Australian liquefied natural gas (LNG) - possible strikes of workers at three large enterprises of Chevron Corp. and Woodside Energy in Australia could threaten about 10% of global LNG exports.