Gas prices in Europe fall 4%

European gas prices are starting the week down 4% from Friday's settlement price, to $382 per 1,000 cubic meters, Report informs referring to the London ICE exchange.

March (nearest) futures on the TTF index (Europe's biggest hub, located in the Netherlands) opened trading at $380.4 (-4.6%). They subsequently settled at $382.4 (-4.1%).

The price dynamics are based on the previous trading day's settlement price of $398.6 per 1,000 cubic meters.

The average price of gas futures on the European exchange last year slightly exceeded $420, which is almost 9% higher than the previous year.