Gas prices in Europe fall below $1,200

Exchange prices for gas in Europe started the trading week with a decrease and minutes earlier for the first time in a month they fell below $1,200 per 1,000 cubic meters, reported from the London Stock Exchange ICE.

January futures on the TTF index (the largest hub in Europe located in the Netherlands) opened trading in the red at $1,236.4 per 1,000 cubic meters. Then they dropped to $1,211.1 per 1,000 cubic meters (-4.7%), while a few minutes earlier, for the first time since November 21, it fell below $1,200. The dynamics of quotations is based on the settlement price of the previous trading day - $1,270.7 per 1,000 cubic meters.

Gas contracts on the spot market also fell in price with ‘day ahead’ delivery on December 17 and 18 from $1,475 to $1,290 (-12.5%), and on December 19 - to $1,280 per 1,000 cubic meters (- 0.8%), according to the EEX exchange.

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