Gas futures in Europe have dropped by 3% below $600 per a thousand cubic meters first time since August 31, 2021, APA reports citing urdupoint.
The nearest futures for February deliveries to TTF hub dropped by 3.2% to $599.
The price of 1,000 cubic meters of gas in Europe fell below $800 at the beginning of auctions held yesterday, APA-Economics reports.
On January 16, the February futures price on the TTF index (the Netherlands' "Title Transfer Facility" - which is considered the most liquid virtual sales center in Europe) was $614,5, which is 15,5% more than the previous calculation price ($727,1).
Notably, on March 7 of this year, the gas price in Europe rose to a maximum of 3,900 dollars.