Europe Gas Prices Hit All Time High in October

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According to statistics from London’s ICE market, the price of natural gas in Europe reached $1,100 per 1,000 cubic meters on Monday after falling below $1,000 as trade began.

Gas futures for November delivery are presently trading at $1,123 per 1,000 cubic meters at the TTF hub in the Netherlands, according to TASS.

On Wednesday, October 6, the TTF reached a new all-time high as the gas price soared beyond $1,900 per 1,000 cubic meters before plummeting.

The significant price volatility on the gas market in Europe is exacerbated by the fact that gas storage facilities are not fully stocked ahead of the forthcoming winter.

Meanwhile, according to trade statistics as of 11:29 a.m. Moscow time on Monday, the price of Brent crude oil futures contracts for December 2021 delivery rose 2.03 percent to $84.06 per barrel on London’s ICE, the highest level since October 2018.

Brent oil was trading at $84.18 a barrel as of 11:50 a.m., up 2.17%, TASS reports.

WTI oil futures contracts were trading at $81.49 a barrel, up 2.7% from the previous day.