Europe sees dramatic increase in gas prices

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Growth in exchange gas prices has accelerated to 11%,XQ informs.

 

November futures on the Dutch TTF on the London ICE exchange amounted to $559.5 per thousand cubic meters.

 

On October 9, due to tensions in the Middle East and the decision of workers at Chevron LNG plants in Australia to resume the strike, the November TTF futures dramatically increased by 12.4%, to $430 per 1 thousand cubic meters. On October 10, the price of spot gas on TTF at the close of trading was $494 per 1 thousand cubic meters, and on October 11 - $491 per 1 thousand cubic meters.

 

Earlier, Israel decided to temporarily stop gas production at one of its largest fields, Tamar, located on the shelf near the Gaza Strip and within range of Hamas missiles. The shutdown could mean a reduction in supplies to Europe in the winter.

Economy