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Gas prices in Europe above $500 per 1,000 cubic meters first time since August

The day before, Chevron halted production on the Tamar gas field in the Mediterranean for safety reasons amid escalation of the conflict between Palestine and Israel

MOSCOW, October 10. /TASS/. Natural gas prices in Europe gained over 5% during the exchange trading on Tuesday and climbed above $500 per 1,000 cubic meters for the first time since late August, according to ICE data.

November futures at the TTF hub in the Netherlands ticked up to $508 per thousand cubic meters or 46.5 euro per MWh.

The day before, Chevron halted production on the Tamar gas field in the Mediterranean for safety reasons amid escalation of the conflict between Palestine and Israel. Halted production may lead to delays in supplies, including in Europe. Furthermore, employees of two Chevron’s LNG facilities in Australia will resume strikes since the next week.