Gas prices in Europe fell to the lowest level in two years

Exchange prices for gas in Europe during trading decreased by 3%, follows from the data of the Intercontinental Exchange (ICE). The cost of gas dropped below $350 per 1,000 cubic meters. for the first time in two years.

As of 10:44 Moscow time, the price of futures on the TTF index is reduced by 1.91% to $348 per 1,000 cubic meters. The dynamics of quotations is given from the settlement price of the previous trading day. Then the cost of gas was $357.8 per 1,000 cubic meters.

Gas prices in Europe began to decline in early 2023. By mid-January, exchange prices for gas in Europe fell by 25%. Also in February, LNG prices hit an 18-month low. According to TASS, during the winter, the price of gas in Europe fell three times. The decline in prices occurred against the backdrop of an abnormally warm winter in European countries and high filling of gas storage facilities.

Milena Kostereva


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