WORLD
European gas prices rise by 21% in November
Baku, November 30, AZERTAC
European gas prices rose by 21% to about $521 per 1,000 cubic meters in November, according to futures data from London’s ICE and TASS calculations.
The main reasons behind the price rise include record-breaking gas withdrawals from European storage facilities amid a temperature drop, statements about Russia ending gas supplies to Austria’s OMV and risks for Russian gas payments due to US sanctions on Gazprombank.
Gas futures traded at $432 per 1,000 cubic meters on October 31, while on November 29, trading closed at $521, a 21% rise compared to the level recorded at the end of the previous month.