Gas prices in Europe have broken the $900 mark for the first time since late 2022.

Today's trading on leading European commodity exchanges saw a multi-year record for gas futures prices. For the first time since December 2022, October delivery contracts broke the $900 per thousand cubic meters mark.

Gas prices suddenly soared to the psychological threshold of $1000 per thousand cubic meters on London's ICE exchange. On the Dutch TTF hub, October futures reached $903 per thousand cubic meters, equivalent to €75,325 per megawatt-hour.

A downward correction then occurred. Currently, gas futures on the Dutch exchange for October-December are hovering around €72 per megawatt-hour (approximately $875 per 1000 cubic meters), with prices set to decline for next year.

Rising energy prices, especially in the current climate of high turbulence, often occur as a result of speculative trading. This accounts for the high volatility, with futures prices rising above a psychological threshold and then quickly falling back within a single trading session.

However, in this case, long-term factors are influencing prices. At the end of last month, gas reserves in underground gas storage facilities across the European Union fell to 65%—the lowest since 2011. A year earlier, this figure reached almost 80%, with the standard occupancy rate during that period being 90%. In August, gas withdrawals from EU storage facilities were the highest in five years, while injections were among the weakest in 12 years.

The unusual heatwave in Europe this summer led to an overdraft of gas reserves. Replenishment is being hampered by the crisis in the Middle East, where Iran and the United States continue to blockade the Strait of Hormuz. Trump announced yesterday that he is perfectly content with this situation and refuses to negotiate a deal with Tehran.

Comments

[Andrey K]

Gas prices in Europe have broken the $900 mark for the first time since late 2022.

Well, what can I say to the average Russian citizen?
Good!
Maybe it will reach the fools through their wallets that they need to live peacefully with Russia!

[Andobor]

Quote: Andrey K

Well, what can I say to the average Russian citizen?

We have $100 if in dollars, I have gas heating.

[Motorist]

Quote: Andobor

We have $100 if in dollars, I have gas heating.

Those are stock market prices, you're talking about retail. In Germany, a cubic meter cost 1 euroruble (including the subscription fee) back when Frau Merkel was getting it for 200 in Russia. I don't even know now.

[fuffi]

On the contrary, Russia needs to be squeezed out of its gas and oil fields. As one old witch once said, it's unfair for one country to own such wealth.

[pudelartemon]

No, it won't work! Remember Zadornov:
- They are so stupid!

[rocket757]

No, no, no... many people don't even get it when their fillet starts to burn...
Forget it... learn to work with those who still have their wits about them... and, by the way, use your own more actively, work towards specific goals...

[private person]

Well, what can I say to the average Russian citizen?

So what have they been telling us ever since the SP-1 and SP-2 blew up? Europe will freeze or starve, but no. And how wonderful it would be if they actually did freeze.

[Modya]

Everyone's already figured it out, but they can't do anything about it. And those who run the show don't give a damn about these numbers.

[Irek]

Even for this price, not everyone can buy it; Geysoyuz has a real chance of freezing like mammoths in the winter.

[olboop]

However, Geysoyuz experienced prices over $1000 in 2022.
In general, I have long since lost faith in the imminent and inevitable collapse of European imperialism, predicted by Karl Marx.

[South Ukrainian]

Quote: olbop

However, Geysoyuz experienced prices over $1000 in 2022.

In 22, they were better off financially. And there were no calls yet to confiscate EU citizens' sovereign wealth funds.

[novel66]

They listened to Marx and began to raise the standard of living of the proletariat so that they would have something to lose.

[highlight]

Quote: olbop

However, Geysoyuz experienced prices over $1000 in 2022.

From the 22nd to the 25th, they were lucky with the weather. But now it looks like their luck has run out.
We should also hit Langeled for a complete immersion in green energy

[rocket757]

Come on, who feels sorry for them?
When they turn the heating down to minimum, they will gather in one room and huddle close to each other...
"They'll cope," as Granny Chancellor used to say...

[Krasnoyarsk]

Quote: Irek

Even for this price, not everyone can buy it; Geysoyuz has a real chance of freezing like mammoths in the winter.

Believe me, nothing will happen. We've been hearing this "Yaroslavna's lament" about the insane price of gas since 2014. So what? Nothing, no matter how hard our propaganda tries.
Prices are rising in the EU? Well, they're not stagnating here either. For some reason, our propaganda doesn't seem to care. It's only "poor" Europe that's on its mind.

[Million]

You can exchange gas for petrol.
If not, then don’t give them gas.

[rocket757]

Prices are jumping back and forth, but consumption is also declining... countries' economies are stalling, or even shrinking... those who are smarter and quicker are moving production somewhere where there are fewer energy supply problems...
In general... the topic is such that you can spread porridge around the plate for a long time, but there is also the obvious... those who were the leaders of global industrial production are pupating in themselves, and what will this lead to, that is a big question???

[tralflot1832]

Trump and Iran have created a "perfect storm" with energy suppliers. That bald devil Hillary, the former British Secretary of Defense who threatened us, has completely shut up after becoming Chancellor of the Exchequer. The budget won't come together; we need another £23 billion, but we're only getting £14-16 billion. The forecast is that people will eat less, but not the migrants (that's sacred; they might not even work), but the locals. And who's to blame for all this? No, not Putin, but Trump. Brainwashing, and for how long?

[Soldatov V.]

We need to calculate what share of Western arms production for Ukraine comes from our gas, oil, and finished fuel supplies to the West, and how much of this goes to Ukraine for the Ukrainian Armed Forces. If we stop these supplies, will arms and ammunition production for Ukraine collapse? Will this bring us closer to victory, save the lives of our soldiers and civilians, and, overall, be cheaper for us than fueling the West and Ukraine?

[hostel]

Great news! The EU has been working towards this result for a long time, and we won't regret it.

[snow mountain]

Gas prices in Europe have broken the $900 mark for the first time since late 2022.

But our common people wouldn’t try to lower this price.

[Viktor Sergeev]

And winter is getting closer, the storage facilities are half empty, they need to be filled, they are waiting for the price to fall, but the bastard is growing.