Gas prices in Europe drop by more than 9%

  16 January 2023    Read: 489
Gas prices in Europe drop by more than 9%

On the first trading day of the week, exchange prices for gas in Europe fell by 9% to $660 per thousand cubic meters, AzVision.az reports citing the London Stock Exchange ICE.

February futures on the TTF index (the largest hub in Europe located in the Netherlands) opened trading at $728.6 (+0.2%). But then they fell by $660 (-9.2%). The quotations' dynamics are based on the settlement price of the previous trading day, Monday, which was $727.1 per thousand cubic meters.

Exchange gas prices in Europe last fell below $700 per thousand cubic meters on January 5, for the first time in almost 16 months - since September 10, 2021. Experts noted that the decline in gas prices on the European stock exchange is associated with warming and an increase in energy generation from wind.


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