Gas Prices Fell Below $1,000 for the First Time Since Late October
OREANDA-NEWS. The cost of gas in Europe during the auction fell below $1,000 per thousand cubic meters, the total decrease in the price of gas in Europe since the beginning of the day is 2.4%. The price of gas futures has reached this level for the first time since the end of October. This is evidenced by the data of the ICE exchange.
Thus, the price of the December futures on the TTF hub in the Netherlands dropped to $993 per thousand cubic meters, or €85 per megawatt hour. Before that, the fuel showed a record growth to $1,9 thousand per thousand cubic meters.
Earlier, gas prices in Europe rose to $1,150 per thousand cubic meters for the first time since the end of October. The price of futures rose amid reports that Gazprom did not book additional capacity for December, and Germany suspended the certification of the operator of the Nord Stream — 2 gas pipeline.
Meanwhile, Bundestag deputy Klaus Ernst said that the Federal Grid Agency of Germany unreasonably delays the certification of the operator of Nord Stream — 2 and thereby contributes to the increase in gas prices. He stressed that ideology and politics should not hinder supply. In turn, the press secretary of the President of Russia Dmitry Peskov said that the increase in gas supplies for European consumers depends on applications from their side and is the subject of commercial negotiations.