Natural gas prices in the USA increased by 70 percent for the first time since 2008, exceeding $370 per thousand cubic meters.
The war between Russia and Ukraine caused huge increases in energy prices with mutual sanctions.
While Russia has curtailed gas flow to the west in response to sanctions, European countries have already been hit hardest by the cuts.
Gas prices increased in the USA
In addition, gas prices increased in the USA, which promised to support EU countries in their independence from Russian gas.
The price of MMBtu (British thermal unit), which saw 10 dollars for the first time in the USA, and the price of one thousand cubic meters of gas exceeded 370 dollars.
Natural gas prices increased by 70% in 2 months
According to CNN’s report, natural gas futures prices increased by 70 percent after the end of June.
Stocks can’t keep up with demand
According to AA; Robert Yawger, vice president of energy futures at Japan-based Mizuho Securities, said supply could not keep up with demand. Stock levels in US natural gas are below historical averages.
Latest situation in Europe
On the other hand, the price of one thousand cubic meters of natural gas in Europe approached 3 thousand dollars this week.
The gas contract price for September futures traded at TTF, the Netherlands-based virtual natural gas trading point with the deepest depth in Europe, decreased slightly today. The indicator is hovering near $2,900 for a thousand cubic meters today.