Gas prices rise in Europe 545 dollars

Gas prices renewed their rise in European exchanges today, Monday, touching 545 dollars per thousand cubic meters, driven by the Hormuz Strait crisis. June futures on the TTF index (Europe's largest trading hub, located in the Netherlands) opened at 00:50 Moscow time at $550.20 (up 2.6%). By 09:33 Moscow time, the price reached $544.20 (up 1.4%). These prices are based on the previous day's settlement price of $536.50 per thousand cubic meters. Gas prices in Europe rose by nearly 60% in March compared to February, due to the escalating conflict in the Middle East, exceeding $600 per thousand cubic meters for the first time since February 2023, according to Novosti calculations. In April, prices fell by 14% to about $540. The price of gas peaked during the conflict, recording $853.7 per thousand cubic meters on March 19, when Saad al-Kaabi, CEO of QatarEnergy, announced damage to two out of 14 LNG production lines in Qatar. Such high prices have not been recorded since 1996, with the historical record of $3892 reached in early spring 2022.