Gas prices in Europe have dropped below $ 3,200 per thousand cubic meters

The gas Gazprom “hagah” in Austria. Archive photo

Futures prices for gas in Europe after the jump above $ 3,500 per thousand cubic meters of closed trading on Friday at 3164 dollars, losing to the level of Thursday, nearly 4%, according to data from the London stock exchange ICE.

The nearest futures (index largest European hub TTF) opened trading at the level of 3213,2 dollars per thousand cubic meters (-2.3%) and the first half of the day moderately lowered. Price low made 2926,2 dollar (-11,1%).

Evening quotes have played a reducing and moved on to growth, exceeding $ 3,500 per thousand cubic meters, for the first time since the beginning of March. Max trading made 3525,9 dollars per thousand cubic metres (+7,2%). But the closing prices fell sharply and stayed 3164 dollars (-3,8%). Dynamics of reproduced from the settlement prices of the previous day – 3290,2 dollars per thousand cubic meters, which was a record for all time of operation of gas hubs in Europe since 1996.

In early March quotes of gas in Europe because of fears of a ban on imports of Russian energy four days in a row was updated historical highs. The record price in 3892 dollars per thousand cubic meters was achieved on March 7.

The last price hike on the European gas markets due to the uncertainty concerning the gas supply. A week ago, the company “Gazprom”, stated that “Nord stream” due to routine maintenance the only working gas compressor unit compressor station Portovaya stop for three days, from 31 August to 2 September. Futures contracts for the supply of gas in September (TTF) after the news has jumped by almost 8% higher than the $ 2,700 per thousand cubic meters, and on the eve reached 3300 dollars.