The price of October futures on London’s ICE jumped to $908 per 1,000 cubic meters after falling below $800 on Friday.
The rally follows Russian energy giant Gazprom’s decision not to book additional capacity for the transit of natural gas through Ukraine for October. Ukraine’s gas transportation operator offered transit capacities amounting to 15 million cubic meters per day for October at an auction on Monday. But according to the auction results, they remained unclaimed, TASS reports. In September, Gazprom booked only 4.3% of the proposed capacity.
The gas market rally subsided later in the day, however, with the TTF hub in the Netherlands trading $881 per 1,000 cubic meters as of 11am GMT.
This change could stem from the news that Europe’s key gas supplier, Norwegian Equinor, received long-awaited permission to boost gas exports from its offshore Oseberg and Troll fields.
For more stories on economy & finance visit RT’s business section
© 2021, paradox. All rights reserved.
Ukraine is having a hard time fighting Russia, the commander-in-chief of the nation’s armed forces,…
A large part of Western aid to Kiev is being embezzled by Ukrainian officials, despite…
Russia repelled a wave of attempted Ukrainian drones strikes on oil refineries and energy infrastructure…
Antony Blinken traveled to China this week to warn Beijing about sanctions for supplying military…
The Ukraine conflict is Washington’s doing and the US is deliberately trying to prolong the…
The US-supplied Army Tactical Missile Systems, known as ATACMS, will allow Ukrainian forces to target…