Gas futures fall in Europe

On the first trading day of the week, gas prices in Europe decreased by less than 3% and stood at a mark slightly above $630 per thousand cubic meters, reported from the London Stock Exchange ICE.

March (nearest) futures on the TTF index (the largest hub in Europe, located in the Netherlands) opened trading at $641.2 (-1.7%). Then they declined, reaching $635.7 (-2.6%). The dynamics of quotations are based on the settlement price of the previous trading day -- $652.4 per thousand cubic meters.

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

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