The price of gas in Europe fell below $250 per 1,000 cubic meters for the first time since April 2021, according to data from London's ICE.
The price of March futures at the TTF hub in the Netherlands fell to $249.9 per 1,000 cubic meters or ?22.34 per MWh (based on the current exchange rate of euro to dollar, prices for ICE are presented in euros per MWh).
Gas prices in Europe continue to decline amid large gas inventories and expectations of warm weather in the region in the coming week.
European UGS facilities are currently 64.69% full (16.76 pp higher than the average for this date over the past five years), containing 71.3 bln cubic meters of gas.
Agencies add: The price of gas in Europe has reached a minimum for the first time since the summer of 2021, Azernews reports.
During the auctions held today, the price of 1,000 cubic metres of gas in Europe has fallen below $250 for the first time since March-April 2021, marking a decrease from the previous calculation of $260 by 3.9%.
On March 23, the price of March futures on the TTF (Title Transfer Facility of the Netherlands, the most liquid virtual trading centre in Europe) index amounted to $249.9.
