TTF gas price exceeds $1,900/'000 m3

The contract for November gas delivery at the Dutch TTF hub reached an unprecedented $1,937/'000 m³ on the morning of October 6, ICE trading data shows.

The contract rallied as soon as trading began, jumping to nearly $1,600/'000 m³ when the market opened. The price of over $1,900/'000 m³ was sustained for only a few minutes at around 08:30 GMT, before falling to around $1,700.

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European gas prices have soared in recent months as a result of a sharp rebound in demand and constrained supply.