Gas prices in Europe fall 1.6%

European exchange gas prices fell 1.6%, falling below $340 per 1,000 cubic meters for the first time since July 11 of last year, Report informs referring to the London ICE exchange.

January (nearest) futures on the TTF index (Europe's largest hub, located in the Netherlands) opened trading at $340.1 (-1.4%). Their subsequent price is $339.3 (-1.6%).

The price dynamics are based on the previous trading day's settlement price of $345 per 1,000 cubic meters.

Meanwhile, during the previous autumn-winter period, in mid-February, exchange-traded gas in Europe was significantly more expensive – prices exceeded $630 per 1,000 cubic meters for the first time in two years.