Gas prices in Europe rose to the highest since the beginning of the year
14:34 02.03.2022 12299
The spot gas price in Europe rose by 29% on Wednesday afternoon compared to Tuesday's close, Interfax reports.
The price of the nearest (April) futures on the TTF hub reached $1,828 per thousand cubic meters, while trading ended at $1,418 on Tuesday, according to data from the ICE Futures exchange.
This is a new high since the beginning of the year. The historical maximum price was recorded on December 21, 2021 - $ 2,138 per thousand cubic meters, and there is very little left before it at the current rate of price growth.
The average price for TTF for February was at the level of $935.
In addition to the difficult political situation around Ukraine, this week in Europe there is a slight decrease in temperature and a sharp decrease in electricity generation from renewable sources – wind generation.
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