Natural gas prices plummet in Europe

The stock exchange price of gas in Europe at the opening of today's trading on ICE Futures, London, collapsed to almost 1,200 US dollars per 1,000 cubic meters.

Report informs, citing Rosbalt that the price of April futures on the Dutch TTF hub fell by 15.99% in the morning to $1,216 per 1,000 cubic meters.

Prices for blue fuel are correcting after growth to record levels last week against the backdrop of easing market participants' fears about possible interruptions in supplies from Russia. An additional factor with a positive impact on exchange prices was the improvement in weather conditions in Europe.

At the same time, Russian natural gas is steadily flowing through key pipelines to Europe, despite economic sanctions imposed against Russia due to its military operation in Ukraine, Reuters reports.

The spot price of natural gas in Europe on the morning of March 7 repeatedly updated historical records and approached 4,000 US dollars per 1,000 cubic meters. But already on March 11, gas futures in Europe fell below $1,400 per 1,000 cubic meters.