Spot gas prices in Europe rose above $100 per thousand cubic meters in the last week of summer after they began to rise due to heat in early August. A day-ahead contract on the Dutch TTF exchange closed on August 25 at $103.6 per thousand cubic meters.
One week earlier, the average TTF price level was $89 per thousand cubic meters. The achieved level of quotations is the highest since the middle of March, i.e. for the last five months.
Experts attribute the rise in gas prices in Europe to the rise in prices in Asia. In addition, the price of $100 per thousand cubic meters is the minimum break-even price for Russian Gazprom when supplying Russian gas to Europe.