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Gas Prices Surge on European Exchanges, Approaching $500 per Thousand Cubic Meters

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Gas Prices Surge on European Exchanges, Approaching $500 per Thousand Cubic Meters

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Gas prices experienced a significant increase on European exchanges today, rising by approximately 13%. This surge brought the prices closer to reaching the $500 mark per thousand cubic meters.

The futures for blue fuel in October 2023 on the TTF Center index in the Netherlands saw a substantial rise of 12.5%, reaching $499.69 per thousand cubic meters.

The sudden jump in gas prices was triggered by reports indicating that Gasco, a Norwegian gas company, has extended the closure of operations at the Scarfe field. The original date for reopening was set for October 2 next year, but it has now been postponed until October 8.

Source: Agencies

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