Exchange gas prices in Europe at their lowest since early June 2023

Exchange prices for gas in Europe fell below $280 per 1,000 cubic meters, the lowest since June 7, 2023, reported from the London ICE exchange.

March futures on the TTF index were at $280.5 at the opening of trading, later dropping by 2.4%, to $276 per 1,000 cubic meters.

On February 12, gas prices in Europe fell to their lowest level since July 2023. The decline was mainly driven by the drop in gas demand in Europe: according to the International Energy Agency, it fell by 7% in 2023, to the lowest level since 1995.

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