Exchange gas prices in Europe fall 3%

Exchange prices for gas in Europe at the beginning of trading on the first trading day of the week fell by 3%, reported from the data of the London Stock Exchange ICE.

February futures on the TTF index (the largest hub in Europe, located in the Netherlands) opened trading at $606.5 (-2.9%). Then they slightly decreased to $606.3 (-3%). The dynamics of quotations is based on the settlement price of the previous trading day, January 27 - $624.7 per 1,000 cubic meters.

Exchange gas prices in Europe on January 17 for the first time in 16 months - from August 31, 2021 - fell below $600 per 1,000 cubic meters. Experts noted that the price of gas on the European stock exchange is declining due to warm weather and strong winds (wind farms have increased electricity generation), as well as sufficient gas reserves in underground gas storage facilities in the EU.

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