Gas in Europe reached prices above $500 per thousand cubic meters for the first time in two weeks.

According to RBC, the exchange price of gas on the ICE Futures site exceeded $500 per thousand cubic meters for the first time in two weeks. At 11:46 Moscow time, the price of the May futures on the TTF hub in the Netherlands reached €45.56 per 1 MWh, or $520.7 per thousand cubic meters, taking into account the current rate, but by 13:03 Moscow time it corrected to $513.15 per thousand cubic meters. According to Bloomberg, quotes increased due to a cold snap in Europe and increased demand from power plants. Gas storage facilities in Europe are 56% full, the highest in a decade. Katerina Filippenko, director of global gas market research at international consulting company Wood Mackenzie, predicts that gas prices will continue to rise this year, but volatility will persist.