The fall in gas prices was facilitated by its glut in the European market and the forecast for relatively warm weather next week.
The price of natural gas in Europe in the course of exchange trading again fell below $600 per 1,000 cubic meters. m. This is confirmed by the London Stock Exchange ICE data on Friday, January 27th.
The price of February futures at the TTF hub in the Netherlands fell to $596 per 1,000 cubic meters. m, or 53 euros per MWh (based on the current euro/dollar exchange rate, ICE prices are shown in euros per MWh). The total price reduction per day is approximately 3%.
Gas prices are falling amid forecasts of relatively warm weather in Europe next week. In addition, gas prices are falling due to its current surplus on the EU market and the simultaneous limitation of its consumption.
The average share of wind generation in EU electricity generation since the beginning of the month remains very high and exceeds 23%
Recall that on January 17, the price of February futures at the TTF hub in the Netherlands had already fallen below $600. Then it happened for the first time since August 30, 2021.
Earlier it was reported that the head of the ruling regime of Russia, Vladimir Putin, was left without one of the main “trump cards” due to the warm winter in Europe. He lost his supposed leverage in the war against Ukraine.
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Source: korrespondent
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