Prices of November gas futures at Hab TTF in the Netherlands approached $ 2,000 per thousand cubic meters (159.88 euros per megawatt-hour, exceed 1950 dollars per thousand cubic meters), evidence of the ICE exchange data. The price has grown by 38 percent.
At the opening of trading on October 6, gas cost about $ 1550 per thousand cubic meters. Against the background of a record price increase in gas, Gazprom’s share updated the historical maximum.
Analysts believe that price increases may continue. Saxo Bank experts believe that the launch of the “Northern Flood-2” would help to reduce prices. If the upcoming winter is cold, and gas supplies will not increase, Europe is waiting for “gloomy and expensive time.”
The Deputy Chairman of the European Commission (EC) France Timmermans believes that unfavorable market conditions became the cause of the energy crisis in Europe. According to him, the demand for energy resources currently turned out to be maximum for 25 years.