The cost of November futures for gas in Europe fell by 9%

The price of gas futures in Europe in November at the opening of trading on October 28 has fallen by 9%, amounting to $ 950 for 1 thousand cubic meters. This is evidenced by the data of ICE Futures.

On October 27 the price of gas in Europe went down to $960 per 1 thou. cu. m. after the announcement of plans to pump “Gazprom” to European gas storages. Earlier on Wednesday, Gazprom CEO Alexei Miller said Gazprom was ready to keep pumping gas into underground gas storages (UGS) in Europe after it had finished filling its underground gas storages in Russia.

Earlier on Wednesday, the Financial Times reported that last week, German Chancellor Angela Merkel told the EU leaders that Russia would increase gas supplies to Germany. However, it was noted that there is no evidence yet of an increase in German storage reserves.

Also that day, Russian President Vladimir Putin said that the situation on the global energy market remains very unstable, especially in Europe. At the same time, the head of state said that Gazprom had made up for the shortage of U.S. gas in Europe even more than required.