The April futures price at the TTF hub in the Netherlands rose to $2,610.7 per 1,000 cubic meters, or 231 euros per megawatt hour (MWh), based on the current euro/dollar exchange rate.
The price of gas on the stock exchange in Europe has broken historic records for four trading days in succession.
Shortly after the start of Moscow’s operation, the price of March futures for gas in Europe skyrocketed to over $1,636 per 1,000 cubic metres, up 60% from previous indicators.
However, in effect, a significant increase in gas prices in Europe began last spring, when the average spot price on the TTF hub index fluctuated in the range of $250-$300 per 1,000 cubic meters. At the end of summer, the value of a contract with a day-ahead delivery exceeded $600, and in early October it already stood at $1,000. The all-time high of $2,411 was reached on 4 March.
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