Gas prices in Europe fall 5.5%

European gas futures fell by about 5.5%, trading below $1,440 per 1,000 cubic meters, Report informs referring to the London Stock Exchange ICE.

January futures on the TTF index (the biggest hub in Europe located in the Netherlands) opened trading at $1,499.3 (-1.3%). Then they fell to $1,435.4 (-5.5%). The dynamics of prices is based on the settlement price on December 9 - $1,519 per 1,000 cubic meters.

Despite the current decline, gas prices are several times higher than the average for a long history of observations. Such a steady rise in prices has not been observed in the entire history of the operation of gas hubs in Europe - since 1996.