The nearest futures (according to the index of the largest European hub TTF) opened trading at $3,213.2 per thousand cubic meters (-2.3%) and moderately fell in the first half of the day. The price minimum was 2926.2 dollars (-11.1%).
In the evening, quotes won back the decline and moved to growth, exceeding $3,500 per thousand cubic meters for the first time since the beginning of March. The maximum trades amounted to 3525.9 dollars per thousand cubic meters (+7.2%). But by the close, prices dropped sharply and settled at $3,164 (-3.8%). The dynamics of quotations is based on the settlement price of the previous day – $ 3,290.2 per thousand cubic meters, which has become a record for the entire period of operation of gas hubs in Europe – since 1996.
In early March, gas prices in Europe, due to fears of a ban on the import of Russian energy resources, updated their historical highs for four days in a row. The price record of $3,892 per thousand cubic meters was reached on March 7.
The latest rise in prices on European gas markets is due to the uncertainty regarding gas supplies. A week ago, Gazprom announced that Nord Stream, due to scheduled maintenance of the only working gas pumping unit at the Portovaya compressor station, will stop for three days, from August 31 to September 2. Futures contracts for the supply of gas in September (under TTF) after this news jumped by almost 8%, above $2,700 per thousand cubic meters, and the day before they overcame the mark of $3,300.
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