The cost of October gas futures on Hub Hube Hub in the United States reached a mark of $ 5.01 per million British thermal units (about $ 175 per thousand cubic meters), having broken a multi-year record.
Price exceeded 2014 levels, when the maxima was explained by strong frosts in the United States, Bloomberg writes.
Gas is becoming more expensive throughout the northern hemisphere against the background of concern about possible deliveries in the coming weeks, given the seasonal cooling. “It is possible that in the upcoming winter we, judging by the current situation of things, we enter the lowest level of stocks in the repositories since 2014,” said Again Capital partner John Kildaf.
Gas prices are growing in the European market, which is also associated with a low level of stocks. The cost of October futures exceed $ 670 per thousand cubic meters. In European underground gas storage facilities, it is contained by 10-15 billion cubic meters of gas less than required for a comfortable passage of the winter season, the Director of the Natural Resources Group and Community Products of Fitch Dmitry Marinchenko noted. According to him, before the launch of the gas pipeline “North Stream-2” “Gazprom” does not want to replenish the repositories or increase sales.