Europe gas prices fell to less than $800 per thousand cubic meters

Economy/International

31-12-2021, 15:57

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Baghdad-INA

According to data from the Intercontinental Exchange Company, the price of gas in Europe during Friday’s trading fell to less than $800 per thousand cubic meters, for the first time since November 10.

In addition to that, the American company, which operates several global exchanges, the price of the February futures contract on the TTF center in the Netherlands has fallen to 796 dollars per 1000 cubic meters, or 68 euros per megawatt-hour (according to the current EUR/USD exchange rate, because the offer Prices at ICE are made in Euros per megawatt-hour).

The total decrease in the price of gas since the beginning of trading amounted to more than 22%, and compared to the historical record last week, the price of gas decreased by about three times .

On January 21, the price of gas on the Stock Exchange in Europe for the first time in history exceeded the mark of 2000 dollars per thousand cubic meters. This came against the backdrop of cold weather and abnormally low reserves in underground gas tanks .

Source: Russia Today