Gas prices in Europe fall to $385.6

European gas prices at the start of Tuesday's trading fell slightly, down 0.8% from Monday's settlement price, to $385.6 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 at $385.3 (down 0.8%). They subsequently settled at $385.6 (down 0.8%).

The price dynamics are based on the previous trading day's settlement price of $388.5 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.