Gas prices in Europe fall below the level of 1200 dollars

Economy

28-12-2021, 15:53

+A -A

Baghdad-INA

Gas prices in Europe fell, during today's trading, by 9%, to below the level of $1,200 per 1000 cubic meters of blue fuel.

Gas prices fell on European stock exchanges for the fifth consecutive day. According to "Novosti" agency, gas futures contracts for the month of January were traded today, between 1135-1,200 dollars per thousand cubic meters of gas.

On November 21, gas prices in Europe recorded highest level ever, reaching $2190.4 per thousand cubic meters of gas.

Despite the drop in gas prices for next January delivery, the average future gas prices for the mentioned month amounted to $1,400 per thousand cubic meters of gas.

The gas markets in Europe have been witnessing a rally for months, in light of the high demand for gas and the decline in its stocks.