Gas prices in Europe fall by 5%

Exchange prices for gas in Europe fell by 5% on Monday morning, Report informs, citing the London ICE exchange.

October (nearest) futures on the TTF index (the largest hub in Europe, located in the Netherlands) opened trading at $376.6 (-6.7%) per thousand cubic meters. Further, they amounted to $383 (-5.1%) per thousand cubic meters. The dynamics of quotes are based on the settlement price of the previous trading day - $403.6 per thousand cubic meters.

Earlier on Monday, a Chevron spokesman told Bloomberg that production at the Wheatstone LNG plant in Australia had fully resumed. Workers at Chevron's gas liquefaction plants began a partial strike on September 8. Exchange prices for gas in Europe then increased by the end of the day by almost 6%.