Gas futures in Europe fall in price by more than 5% to $ 820 – ICE Futures
According to trading data on ICE Futures, the price of gas futures in Europe fell by more than 5% and at about $ 820 per thousand cubic meters.
The cost of October gas futures according to the Dutch TTF index, the most liquid European hub, opened trading at $ 846.8 per thousand cubic meters, then increased slightly, after which it decreased and at 10.24 bounced sharply to $ 814.8 per thousand cubic meters (by 6 % below the estimated price of the environment). Thus, the October futures cost about $ 824 per 1,000 cubic meters.
On Wednesday, trading closed at $ 838.2 per thousand cubic meters, and the estimated price was $ 867.3.
Gas prices in Europe have been growing since last year and are breaking records. A month ago, the estimated cost of the following gas futures on the Dutch TTF index, the most liquid European hub, was just over $ 500 per thousand cubic meters. It is 75% below the target price on September 21, close to the $ 900 mark. The cost of the futures at the auction on September 15 exceeded the record $ 960 per thousand cubic meters.
Dmitry Marinchenko, Director of the Fitch Group for Natural Resources and Commodities, noted in mid-September that the dynamics of gas prices would depend mainly on two factors: weather and supplies from Gazprom; which may increase after the launch of the Nord Stream 2 gas pipeline.
