On Wednesday, September 29, the price of gas in the European market reached a historic highest record, again. The cost of one thousand cubic meters of gas exceeded 1,050 dollars.

This was reported by RIA Novosti.

According to the index of the most liquid European hub TTF, at the beginning of trading the cost was $955.

The price was constantly rising throughout the day. At about 17:13 Kyiv time, it reached 1,064 dollars, which is 10% higher than Tuesday's estimated price.

Around 20:00 Kyiv time, the price of the November futures on the TTF hub in the Netherlands exceeded 87.25 euros per 1 MWh (ICE prices are presented in euros per MWh). Around 22:00, the exchange rate fell to 86.5 euros.

The previous historic record was set the day before. Then the price of 1,000 cubes reached 1,040 dollars, and the session closed at $940. The estimated price was $960.

The gas prices in Europe has been gradually increasing for a long time. Back in early August, the estimated price of the nearest Dutch TTF index futures was around $515 per thousand cubic meters, by the end of August the figure approached $600.

Over the past few weeks, the gas pricewas almost doubled in price in the European market.

According to analysts, this is due to the low European stocks, tight supplies and high demandcaused by economic recovery after the pandemic, weather factors, etc.