European Gas Prices Reach Highest Level Since Late 2022

Natural gas prices in European markets experienced a significant rise during Thursday's trading, surpassing the level of 1050 dollars per thousand cubic meters for the first time since December 2022. November futures contracts linked to the Dutch TTF index increased by 3.5% to reach 1050.5 dollars per thousand cubic meters by 16:07 Moscow time. The contracts began trading at 1015.3 dollars per thousand cubic meters, then climbed to 1030.7 dollars by 10:00 Moscow time, marking a 1.6% increase compared to the previous session's price of about 1015 dollars per thousand cubic meters. Prices had been significantly higher during 2021 and 2022, reaching a historic peak of 3892 dollars per thousand cubic meters in early spring 2022.