Gas prices in Europe fall 5.5%

European gas futures fell by about 5.5%, trading below $1,440 per 1,000 cubic meters, reported from the London Stock Exchange ICE.

January futures on the TTF index (the biggest hub in Europe located in the Netherlands) opened trading at $1,499.3 (-1.3%). Then they fell to $1,435.4 (-5.5%). The dynamics of prices is based on the settlement price on December 9 - $1,519 per 1,000 cubic meters.

Despite the current decline, gas prices are several times higher than the average for a long history of observations. Such a steady rise in prices has not been observed in the entire history of the operation of gas hubs in Europe - since 1996.

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