World gas prices have set a record and reached their highest level since the fall of 2018, Kommersant writes. Analysts expect the continuation of the trend until the end of the year.

As of early April, the average price of one thousand cubic meters of gas at European hubs exceeds $250. The Dutch TTF trades futures with a delivery date in the fourth quarter of 2021 at €21 per one megawatt/hour.

According to experts, the main reason for the increase in prices was the active filling of underground storage facilities by traders, which reduces supply in the spot (current) market. Currently, major European storage facilities are 31 percent full, compared the 29 percent at the end of February.