What is the current price of natural gas in Europe? The spot price of natural gas in Europe has once again hit a 5-month high. The price jump at the end of the European trading session is usually the result of Asian market growth.

What is the price of gas in Europe now

The price of the nearest September contract for TTF on the ICE Futures exchange reached $3,363 per thousand cubic meters. On Thursday, that contract reached $3,327.

The historical maximum for gas prices in Europe was March 7, 2022, when April futures were at one point quoted at $3,898. Major suppliers of pipeline gas to Europe are technically constrained, with Norway continuing preventive maintenance at its fields and capacity cuts in the Nord Stream pipeline due to disruptions to maintenance schedules and breakdowns.

Earlier this year, Asian buyers tried not to rush gas purchases on the spot, ceding available volumes to Europeans. However, as winter approaches they are now faced with the task of building up their own gas reserves.

Earlier we reported that the main Asian indices are still on the rise.