Gas price in Europe up by 18% in November to $1,558 per 1,000 cubic meters

MOSCOW, SANA-The price of gas in Europe rose by 18% in November 2022 compared with the previous month to around $1,560 per 1,000 cubic meters, according to data provided by London’s ICE on November and December futures contracts and TASS calculations. One of the main factors behind the price surge was later start of heating season and cold weather in the region.

The price of gas futures reached around $1,558 per 1,000 cubic meters by the end of trading on November 30, whereas on October 31 trading ended with the price of $1,246, a 18% surge month-on-month.

The average price of gas in Europe was around $1,259 per 1,000 cubic meters in November, and $1,379 in October.

Manar Salameh /Ruaa al-Jazaeri