European gas prices drop 14.5% at start of Tuesday trading

Exchange prices for natural gas in Europe fell by 14.5% at the start of trading on Tuesday, slightly exceeding $577 per 1,000 cubic meters, Report.

According to trading data from the London-based ICE exchange, April futures - the nearest contracts - on the TTF index, Europe's largest gas hub located in the Netherlands, opened trading at $602.8 per 1,000 cubic meters, down 10.7%.

Later, the price declined further to $577.1 per 1,000 cubic meters, marking a 14.5% drop.

The price dynamics are calculated based on the settlement price of the previous trading day, which stood at $675.1 per 1,000 cubic meters.