Gas prices surge in Europe

Since the beginning of August, the average spot price of gas in Europe has risen by 19 per cent, marking the highest increase since November-December 2023.

The data, reported by the London-based ICE Futures, highlights a significant escalation in gas costs, Caliber.Az reports via Russian media.

The main driver of this price increase has been recent events in the Kursk region, though the overall price trend had been rising throughout the year.

In July, the average price of gas in Europe was approximately $366 per 1,000 cubic meters. However, within the first 16 days of August, this price surged by 19 per cent, reaching $435.