Exchange prices for gas in Europe fell below $350 per 1,000 cubic meters for the first time since June 7, 2021. m. This is evidenced by data from the London Stock Exchange ICE.
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The price of June futures at the TTF hub in the Netherlands decreased to $348 per 1,000 cubic meters. m. The dynamics of quotations is based on the calculated price of the previous trading day. Then the cost of gas was $357.8 per 1,000 cubic meters. m.
Exchange prices for gas in Europe have decreased significantly since the end of last year. In early March, for the first time in more than a year and a half — since the end of July 2021 — they dropped to $450 per 1,000 cubic meters. m. This is more than 8 times lower than the record values of the first days of March 2022 — almost $3,900 per 1,000 cubic meters. m.
The decrease in prices occurred against the background of an abnormally warm winter in European countries and high gas storage capacity.
As of the beginning of April 2023, the repositories of the European Union were filled at the level of 55.7%.
The Ministry of Finance wrote that the European Commission announced the first tender for the collective purchase of natural gas as part of efforts to diversify the supply of this energy resource by establishing contacts with reliable suppliers other than the Russian Federation.
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Author: News editor Roman Myronchuk writes on the following topics: Economy, finance, banks, cryptocurrencies, investments, technologies
Source: Ministry of Finance