Gas futures in Europe top $3,500 per thousand cubic meters
For the first time since March, the gas futures in Europe top $3,500 per thousand cubic meters.
Gas futures prices in Europe on Friday surpassed $3,500 per thousand cubic meters for the first time since March.
As of 14:39 GMT, the futures (TTF hub) are growing by 6.6% to $3,507.7 per thousand cubic meters. The last day's settlement of $3,290.2 became a record for the whole period of operation of gas hubs in Europe, since 1996.
In March, European gas futures reached an all-time high of over $3,600 per 1,000 cubic meters, according to the London-based ICE exchange.
European and British gas prices surged back then, reaching record highest as crude oil spiked in light of the Ukraine crisis.
The surges stem from supply fears as sanctions fell on Russia over the war in Ukraine, leading the price of gas on the European stock exchange to surpass historic records.