Europe's Gas Futures Open 8% Up Amid Lack Of Supply Growth In Region - ICE Futures

The price of gas futures in Europe opened Monday's trading with an increase of 8% to $960 per 1,000 cubic meters as the regional market has seen no rise in supplies, according to data from the ICE Futures exchange

MOSCOW (UrduPoint News / Sputnik - 08th November, 2021) The price of gas futures in Europe opened Monday's trading with an increase of 8% to $960 per 1,000 cubic meters as the regional market has seen no rise in supplies, according to data from the ICE Futures exchange.

According to the Dutch TTF index - the most liquid European hub, the price of December gas futures has slightly sped up, growing in the first minutes of trading to $951 per 1,000 cubic meters, or a 7% increase, as of 07:00 GMT.

The dynamics of futures are calculated on the exchange from the estimated price of the previous trading day.

On Friday, it stood at $880.

On Monday, the Russian energy giant Gazprom planned to complete gas pumping into underground storage (UGS) facilities in Russia to ensure uninterrupted gas supply to the domestic market in winter and begin increasing supplies to European UGS. However, according to German gas transmission network operator Gascade, deliveries via the Yamal-Europe gas pipeline from the Polish sector to the German sector remain at zero though reverse deliveries from Germany to Poland have decreased.