Gas fell below $800 per thousand cubic meters on the European Exchange

Gas prices in Europe fell below $800 per thousand cubic meters, according to the London Stock Exchange ICE, for the first time since February 16.

Thus, January futures opened at $925.2 (minus 1.9%), according to the TTF index (the largest center in Europe, based in the Netherlands).

A few minutes ago, the price of the same futures contract fell to $790.8 (minus 16.2 percent).

The supply dynamics was based on the estimated price of the previous trading day in the amount of $943.5 per thousand cubic meters.

On Monday, gas prices in the European market for the first time since February 21 fell below $850 per thousand cubic meters.

Gas futures prices tended to decrease due to the agreement of the EU countries to set a price ceiling for Russian gas. Where the measure was taken for what has been described as protecting consumer families and European companies from rising prices.

Source: News