Gas prices in EU soar in anticipation of Ukrainian transit halt

Gas prices in Europe rose to their highest since November 27, 2023, $536 per 1,000 cubic meters during exchange trading, amid expectations that Russian gas transit through Ukraine will cease on January 1, according to data from the London ICE exchange.

The cost of February futures on the TTF hub in the Netherlands rose to more than $536 per 1,000 cubic meters, or 50 euros per MWh (based on the current exchange rate of euro to dollar, prices for ICE are presented in euros per MWh).

Since the beginning of the day the gas price has risen by more than 4%.