Gas price in Europe up above $500 per 1,000 cubic meters first since June

Business & Economy August 22, 2023, 15:58

The gas price has increased by around 8% in total since the start of trading day

MOSCOW, August 22. /TASS/. The price of gas in Europe rose above $500 per thousand cubic meters during Tuesday trading for the first time since June 15, according to London’s ICE. The gas price has increased by around 8% in total since the start of trading day.

September futures at the TTF hub in the Netherlands went up to $502 per thousand cubic meters, or to 44.57 euro per MWh (on the basis of the current euro exchange rate against the dollar, prices at ICE are in euro per MWh).

Reuters said earlier that Unions at Woodside Energy Group's North West Shelf offshore gas platforms in Australia announced plans on August 20 to strike as early as September 2.

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