Exchange gas prices in Europe dropped below $850 per thousand cubic meters for the first time since late February.
According to the London-based ICE exchange, January futures on the TTF index (the largest hub in the EU, which is located in the Netherlands) opened trading at $882.1 per thousand cubic meters of blue fuel, losing 3%.
By late afternoon their price reached $849.68 (-7%). This figure was the lowest for the first time since February 21.
Experts recalled that the dynamics of the quotes is derived from the settlement price the day before. Friday, December 23, the price per thousand cubic meters of natural gas was $909.5. Futures were not traded on Monday, December 26.
The price of gas in Europe reached $900 on Friday, the first time since June 13.
The EU countries agreed on December 19 to set a maximum exchange price for the energy carrier. It will be €180 per MWh (about two thousand dollars per thousand cubic meters). This agreement will take effect on February 15, 2023.