The price of gas on the European exchange during morning trading exceeded $700 per thousand cubic meters for the first time since March 23.
AI will summarize what happened, why it matters and what it means for business.
This dynamic is observed against the backdrop of another round of escalation between the US and Iran in the Middle East.
The cost of the August futures contract on the TTF hub in the Netherlands rose to about $716 per thousand cubic meters, or €60.515 per MWh (based on the current euro-to-dollar exchange rate, prices on ICE are quoted in euros per MWh).
Quotes have risen more than 5% since the start of the day.
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Gas price in Europe was below $700 per thousand cubic meters
Gas price exceeded $700 per thousand cubic meters amid US-Iran escalation