Gas prices in Europe stabilize at $402 per thousand cubic meters

Exchange gas prices in Europe have settled at $402 per thousand cubic meters.

Report informs via London's ICE that June (nearest) futures under the TTF index (Europe's largest gas hub, located in the Netherlands) opened trading at $403.2 per thousand cubic meters (+0.1%). Their price then stabilized at $402 (-0.2%). The price movement is based on the settlement price of the previous trading day – $402.9 per thousand cubic meters.

Back in mid-February, exchange gas in Europe was significantly more expensive with prices exceeding $630 per thousand cubic meters for the first time in two years. The average price of gas futures on the European exchange last year was $386.5, which is 16.3% lower than the previous year.