Gas prices in European markets rose by approximately 13% on Monday, surpassing the level of $2800 per thousand cubic meters of the blue fuel. By 09:16 Moscow time, gas futures increased by 12.7% to $2862 per thousand cubic meters, according to the largest European hub index, TTF. This marks the highest level of gas prices in Europe since March, nearly six months ago. Last Friday, the Russian energy company Gazprom announced that natural gas flow through the Nord Stream 1 pipeline (a gas pipeline from Russia to Germany) would be halted for three days, from August 31 to September 2, due to scheduled maintenance work.
Spike in Gas Prices in Europe
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