Gas price in Europe surpasses $3,000 per 1,000 cubic meters first since early March

MOSCOW, SANA- The gas price in Europe surged above $3,000 per 1,000 cubic meters during Monday trading for the first time since March 8, extending gains amid reports on suspension of supplies via Nord Stream for three days starting August 31 due to the repair of gas compressor unit, according to data provided by London’s ICE.

The price of gas futures for September delivery at the TTF hub in the Netherlands went up to $3,024 per 1,000 cubic meters, or 292.4 euro per MWh (on the basis of the current euro exchange rate against the dollar, prices at ICE are in euro per MWh).

The increase in the gas price since the beginning of trading almost totals 20%.

ALI,Baraa