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European gas costs rise to all-time high as Russia waits for EU authorization for delivery of supplies through Nord Stream 2 pipeline
(MENAFN) On Monday, Oct. 4 gas costs in Europe have surpassed a fresh all-time high, increasing over USD1,200 a 1,000 cubic meters as the global energy catastrophe deteriorates because of increasing post-coronavirus demand.
The Intercontinental Exchange (ICE) figures showed that the price of November futures on the TTF hub in the Netherlands hit over USD1,200, or around 100 euro per megawatt-hour.
During the past week, gas costs unprecedentedly surpassed the USD1,000 level, and then climbed to over USD1,100.
European costs for gas are expected to rise higher, as upbeat demand steered by the reopening of EU economies after curfews surpassed supply that has been reduced since Europe is not the only region reopening after coronavirus-related isolation.
The Intercontinental Exchange (ICE) figures showed that the price of November futures on the TTF hub in the Netherlands hit over USD1,200, or around 100 euro per megawatt-hour.
During the past week, gas costs unprecedentedly surpassed the USD1,000 level, and then climbed to over USD1,100.
European costs for gas are expected to rise higher, as upbeat demand steered by the reopening of EU economies after curfews surpassed supply that has been reduced since Europe is not the only region reopening after coronavirus-related isolation.
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