Gas price in Europe in currency trading, according to the London Stock Exchange ICEIt fell below $400 per thousand cubic meters for the first time since July 8, 2021.
According to ICE, the overall price drop for the day was about 2.4%.
Also, the cost of June futures at the TTF headquarters in the Netherlands fell to $398.1 per thousand cubic meters.
Earlier, Bloomberg reported earlier in May this year that European countries were less to buy Natural gas to replenish underground storage compared to conventional rates for that period. The drop came despite the drop in stock prices for gas. One of the reasons for such dynamics was the slow recovery of consumption of gas and other energy sources after the crisis declines. The article states that under these circumstances, it is more profitable for households and businesses to expect an even greater drop in fuel stock prices.