The average monthly settlement price of gas on the European stock exchange has risen sharply by almost 50%, from $1,180 per thousand cubic meters in June to $1,805 in July, according to RIA Novosti calculations based on data from the London ICE exchange.
The ongoing tension with supplies from Russia continues to put pressure on the European market, according to experts interviewed by the agency.
Gas futures contracts on the TTF hub index (with the nearest delivery in August and September) traded in July in the range of $1,530-$2,385 per thousand cubic meters, while in July last year they were several times cheaper and traded below $500.
Caspian Barrel
