Gas prices in Europe rise 1.7%

European exchange gas prices rose by 1.7% to $716 per 1,000 cubic meters, Report informs.

The increase is reflected in data from the London-based ICE exchange.

August futures on the TTF index-Europe's largest distribution hub, located in the Netherlands-opened trading at $704.9 (+0.1%). The figure subsequently reached $716.4 per 1,000 cubic meters.

Quote dynamics are calculated relative to the settlement price of the previous trading day, which stood at $704.1 per 1,000 cubic meters.

Gas prices in Europe began to rise on March 2, the first day of trading following the start of US and Israeli strikes on Iran. Prices reached their highest peak during the conflict at $853.7 per 1,000 cubic meters on March 19, when Qatar, the world's largest LNG producer, sharply reduced output.