Gas prices in Europe remain below $540 per 1,000 cubic meters

Gas prices in Europe remained unchanged at a level below $540 per 1,000 cubic meters, more than three times lower than the values of the beginning of March last year, Report informs referring to the London ICE exchange.

April (nearest) futures on the TTF index (the biggest hub in Europe, located in the Netherlands) opened trading at $527.9 per 1,000 cubic meters. Then they fell to $525.8 (+1.4%). The dynamics of quotations is based on the settlement price of the previous trading day - $518.5 per 1,000 cubic meters.

Exchange gas prices have shown a steady decline since the end of last year. So, for example, on February 18, gas prices for the first time in 18 months - since August 26, 2021 - fell below $550 per 1,000 cubic meters and since then have been in the range of $530-570, however, in the last days of winter they have been declining towards $510. This is more than three times lower than the levels of early December, when prices on some days exceeded $1,700.