The cost of blue fuel is falling to the level of 2021 against the backdrop of a warm winter, writes Bloomberg.
The price of natural gas in Europe for the first time since September 2021 fell below $700 per thousand cubic meters. This is confirmed by the ICE exchange data.
Thus, the price of February futures at the TTF hub in the Netherlands at the opening of trade reached 696.4 dollars per thousand cubic meters (63.5 euros per MWh).
According to Bloomberg, Europe is expected to experience its warmest January in years, easing the energy crisis that has been weighing on the region for several months.
“This is a sharp reversal after low temperatures in early December, which raised concerns about natural gas running out too quickly… European gas futures closed at their lowest since October 4 on Wednesday, January 4, with electricity prices also falling,” the article said.
Remember that gas prices in Europe have been falling record-breakingly for several days in a row.
European gas storage facilities are 83% full – EC
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.