European gas prices are on the rise

Gas prices in Europe exceeded the mark of $1,700 per thousand cubic meters at auction today, on Monday, for the first time since March 10, according to the London Stock Exchange ICE.

Natural gas futures rose 7.4% to $1,715 per thousand meters, according to the London Stock Exchange.

At the beginning of March 2022, gas prices in Europe were fixed at historical levels 4 times in a row, and this happened due to fears of a ban on the import of Russian energy resources. On March 7, gas prices fixed $2,560.7 per thousand cubic meters.

After that, prices fell and on June 6, 2022, for the first time in 3 months, the price of gas fell below $900 per thousand cubic meters.

Since mid-June, gas prices in Europe have risen again amid a reduction in natural gas supplies from Russia due to obstacles as a result of Western sanctions imposed on Moscow.

Source: RIA Novosti

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