Gas prices in Europe rose slightly on Thursday

Rising gas prices
┬ęCollage / Shutterstock/Fotodom

Gas prices in Europe on Thursday, June 23, after reaching almost $1,500 per 1,000 cubic meters, fell slightly below $1,430 by the close of trading, reducing the growth rate from 7 to 2% compared to Wednesday’s settlement price. This is indicated by the data of the London ICE exchange.

July futures on the index of the largest European hub TTF opened trading on Thursday with a slight decrease, almost at the level of $1,380 (minus 1% against Wednesday’s settlement price of $1,393.8). However, from the very first minutes, the quotes were steadily growing and showed a similar trend until about 14:00 Moscow time, until they reached the price maximum level of $1,494 per thousand cubic meters (+7.2%).

But already in the second half of the day, futures slightly decreased in price. By the close of trading, they fell in price, the last contracts were sold for $1,426.6 (+2.4%).

Previously, the price of gas on the exchange surpassed $1,300 for the first time since April 27. The growth was almost 25%. July futures were at $1,069 per 1,000 cubic meters of gas. Soon the prices accelerated the growth to 9% and crossed the $1130 mark, and then held at the level of $1053-1097.

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