MOSCOW, Aug 18 Exchange gas prices in Europe rose by 2% following trading on Friday, to $424 per thousand cubic meters, follows from London ICE data.
September (nearest) futures on the TTF index (the largest hub in Europe, located in the Netherlands) opened trading at $416.4 (+0.3%) per thousand cubic meters. The price high on Friday was $431.8 (+4%), the price low was $400.3 (-3.5%). The latest futures traded at $423.8 (+2.1%). The dynamics of quotations is based on the settlement price of the previous trading day — $415 per thousand cubic meters.
Last Wednesday, for the first time since June 21, these quotes crossed the threshold of $450 per thousand cubic meters and rose to almost $500 during the auction.
Experts explain that the increase in stock prices for gas in Europe is temporary, associated with expectations of heat and weak winds, as well as the risks of a temporary cessation of supplies of Australian liquefied natural gas (LNG) — possible strikes of workers at three large enterprises Chevron Corp and Woodside Energy in Australia could threaten about 10% of global LNG exports.