Foreign exchange prices of gas in Europe fell for the third day in a row: In transactions on the London ICE exchange on Tuesday, prices fell by 2% to $ 485 per thousand cubic meters. This should from trading platform data.
The nearest December futures contracts on Europe’s largest Dutch centralized TTF index began trading at $504.7 per thousand cubic meters at 10 a.m. Moscow time, up 1.4% from Monday’s close. And as of 12.23 Moscow time, their cost was $ 486.1 (minus 2.3%). Then the decline continued.
“Despite the cold weather currently observed in Northern Europe, European gas prices fell in yesterday’s session. Prices for short-term contracts fell especially sharply. “The latest forecasts show that temperatures will start to rise again from next weekend and the overall supply picture remains positive as gas withdrawals from gas storage facilities have been low so far.” RIA News.
The period of record gas prices on the European stock market continued in 2021-2022. Since 1996, such consistently high prices have not been observed throughout the entire period of activity of gas centers in Europe. Prices reached a historical maximum of $3,892 per thousand cubic meters in the early spring of last year and began to decline steadily in the autumn of 2022. According to the results of July-September 2023, the average price per thousand cubic meters was around 380 dollars.
Following the escalation of the Palestinian-Israeli conflict on October 7 and the news of the damage to the Balticconnector gas pipeline between Finland and Estonia on October 8, gas prices in Europe increased by approximately $145 to $560 by the end of last month.
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