Gas prices in Europe fall 3%

European gas prices fell 3% in morning trading, Report informs referring to the London ICE exchange.

February futures on the TTF index (Europe's largest hub, located in the Netherlands) opened trading at $342.1 (-2.8%). They then fell to $341.2 (-3%).

The price dynamics are based on the previous trading day's settlement price of $351.8 per 1,000 cubic meters.

On Friday, the first trading day of the new year, these prices rose 2% to $350 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.