MOSCOW, November 1. /TASS/. The average price of gas in Europe rose by 10% in October to about $456 per 1,000 cubic meters, according to data from the London ICE futures exchange and TASS calculations.

Meanwhile, during Thursday trading the price dropped by 5% by the end of the day. Gas futures were at around $444 per 1,000 cubic meters on September 30, while on October 31 the trading closed at $432, down by 2.7% compared with the end of last month.

In December 2023, the average price of gas in Europe was about $408 per 1,000 cubic meters, though later it gradually declined until April: to $337 in January (-53% year-on-year), to $288 in February (-51%), to $302 in March (-38%). After that prices resumed growth: to $320 in April (-33%), to $357 in May (+0.2%), to $384 in June (+5% year-on-year), to $366 in July (+9%), to $437 in August (+10%), to $416 in September (-0.3%), to $456 in October (-11%).

The average gas price grew due to an increase in LNG demand in Europe before the start of the heating season, a surge in gas withdrawal from underground gas storage facilities, disrupted supplies from Norway at the end of the month. That said, underground gas storage facilities in Europe are currently full by more than 95%, with over 105.5 bln cubic meters of gas stored in them now.