London: Gas prices on European exchanges saw a notable increase during trading on Friday morning, rising by nearly 2 percent to approach $540 per thousand cubic meters, following a decline in the previous trading session, according to data from the London Stock Exchange.
According to Yemen News Agency, the June futures contracts, the nearest to maturity, opened at $546.4 per thousand cubic meters, according to the Dutch TTF index, the largest gas trading center in Europe, an increase of 3.2 percent compared to the previous settlement price.
By 9:08 AM Moscow time, prices had stabilized at $538.5, marking a 1.7 percent increase. This increase is based on the previous session's settlement price of $529.6 per thousand cubic meters.
Average gas prices in Europe rose by about 60 percent in March compared to February, driven by escalating tensions and conflict in the Middle East, surpassing $600 for the first time since February 2023. Conversely, prices fell by 14 percent in April, settling near $540 per thousand cubic meters.