Gas prices on the London Stock Exchange rose today to their highest levels over the last four months, reads a report issued by the Oman News Agency, today [July 7].

This comes after the futures contracts for the month of August recorded a rise of 7 per cent, to hit US$1,930 per thousand cubic meters of gas. This comes after trading began at a rate of US$1,865 per thousand cubic meters.

Within a month, gas prices had also nearly doubled in Europe. On June 7, gas prices were at the level of US$880.8 per thousand cubic meters, before quickly rising to US$1,300 by the end of last month.