Gas prices in Europe fall 2.8%

European gas prices at the start of Tuesday's trading fell 2.8% from Monday's settlement price, to $368.5 per 1,000 cubic meters, Report informs referring to the London ICE exchange.

March (nearest) futures on the TTF index (Europe's largest hub, located in the Netherlands) opened at $373.1 (-1.6%). Their subsequent price is $368.5 (-2.8%).

The price dynamics are based on the previous trading day's settlement price of $379 per 1,000 cubic meters. The average price of gas futures on the European exchange last year slightly exceeded $420, which is almost 9% higher than the previous year.