July futures contracts (nearest) on the TTF index (Europe's largest distribution center, located in the Netherlands) opened at $494.3 per thousand cubic meters (+2.9%).
The lowest price reached was $484.2 (+0.8%), and the highest price was $505.8 (+5.3%). The last traded price for the futures contract was $503.2 (+4.8%). The price dynamics are based on the previous day's settlement price of $480.2 per thousand cubic meters.
The average price of gas on European exchanges rose by nearly 60% in March compared to February due to the escalation of the conflict in the Middle East, exceeding $600 per thousand cubic meters for the first time since February 2023. In April, these indicators fell by 14%, reaching about $540 per thousand cubic meters.
Last month, prices exceeded $600 per thousand cubic meters for a short period of time - from May 15 to 20.
Gas prices peaked during the conflict, reaching $853.7 per thousand cubic meters on March 19, when Saad al-Kaabi, CEO of Qatar Energy, announced that two of the company's 14 liquefied natural gas (LNG) production units in Qatar had been damaged. Prices had not been this high since early January 2023.
Gas prices rose significantly during 2021 and 2022. Prices reached a record high of $3,892 per thousand cubic meters in early spring 2022.
