Gas Futures in Europe Topping $1,500 Per Thousand Cubic Meters for First Time Since Oct 14
A British Gas bill is displayed by a gas ring on a cooker in this photo illustration in London.
MOSCOW (Sputnik) – Gas futures in Europe are increasing by some 3% on Wednesday, topping $1,500 per thousand cubic meters for the first time since October 14, according to data from the London-based ICE exchange.The nearest futures for January deliveries to TTF hub were trading up 2.5% at $1,500.9 as of 09:41 GMT.Since 2021, energy prices in the EU countries have been surging alongside higher prices throughout the globe. However, the prices skyrocketed after Europe slapped several rounds of sanctions on Moscow citing Russia’s military operation in Ukraine in February 2022.As a result of the fuel crisis, many European governments had to resort to contingency measures, while people faced skyrocketing bills ahead of the looming winter.
