Gas prices in Europe fall below $1,400 for first time since June 24

Exchange prices for gas in Europe fell below $1,400 per thousand cubic meters at the beginning of trading on Monday for the first time since June 24, reported from London's ICE.

With the opening of trading, futures contracts on the TTF index fell by 6.4% to around $1,333 per thousand cubic meters. Then their value rose to $1,340.7 (-5.9%). The dynamics is based on the settlement price on the previous, Friday trading day - $1,424.2 per thousand cubic meters.

The decline in gas prices in Europe is due to the calming of the market because of the high level of occupancy of underground gas storage facilities, but European countries may face a new price surge. At the same time, gas prices are several times higher than last year, when they were already at a record level.

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