Gas prices in Europe jump to highest levels in a year
Uncertainty over gas supplies from Russia and a gradual cooling in Europe are having a negative impact on energy prices.
On December 3, the price of European gas jumped to its highest level since 2023.
RIA Novosti reports this with reference to data from the London ICE exchange.
According to analysts, in November, the cost of gas futures for December rose to $491.2 per thousand cubic meters. This amount is 7.7% higher than the maximum October figures, which were recorded at $455.9.
It is noted that the above amount is the maximum only for the current year. In November 2023, the cost of gas in November exceeded $500 and reached $511.3.
Experts attribute the rise in energy prices to two factors:
- the onset of the heating season;
- uncertainty with gas supplies from Russia.
For reference
A futures contract is an agreement on the exchange for the purchase and sale of an underlying asset, in which the parties (seller and buyer) agree only on the price and delivery date.
