Gas prices in Europe fall nearly 7%

European gas futures prices decreased about 7% on January 17 trading, falling below $1,000 per 1,000 cubic meters after rising slightly in the morning, Report informs referring to the data of the London Stock Exchange ICE.

The cost of February gas futures on the TTF index - the largest European hub - has shown a steady decline since the opening of the trading session. So, from the level above $1,070 (local maximum), prices fell to about $950.

Gas prices last week fluctuated in the range of $825-$1,130 per 1,000 cubic meters. However, in the second half of the week, the indicator rose sharply and reached $1,025 on January 14.