Gas prices in Europe rise by more than 6%
In the first minutes of trading on the stock exchange ICE gas prices are growing by more than 6%, having risen above $1,350 per 1,000 cubic meters. m.
December futures on the index of the Dutch hub TTF opened trading at $1,367.6 per 1,000 cubic meters. m (+7.3%). As of 10:03 Moscow time, they cost $1,356.6 per 1,000 cubic meters. m (+6.5%). The dynamics of quotations is based on the settlement price of the previous trading day, that is, $1,274.2 per 1,000 cubic meters. m.
22 November European Commission (EC) suggested introduce an emergency cap on natural gas prices at €275 per 1 MWh on the TTF hub index. In terms of the price per 1 thousand cubic meters. m. of gas is about $ 3 thousand. The proposal of the EC will be discussed by the energy ministers of the EU countries at a meeting in Brussels on November 24th.
Read more about the plan of the European Commission - in the material "Kommersant" "Europe is rewriting the gas formula".