Gas prices in Europe drops by almost 3%

The cost of gas in Europe demonstrated negative dynamics on Wednesday morning, dropping below $1,200 per thousand cubic meters, Report informs, citing London IE.

May futures on the index of the largest European hub - TTF - opened the trading session at $1,160.9. Then the decline slowed down a bit - to 2.8% against the settlement price on Tuesday; the contract value was $1,189 per thousand cubic meters.

The cost of gas in Europe has recently shown substantial volatility due to hostilities in Ukraine.