Gas continues to decrease in price against the background of approaching stocks in European countries to the maximum value.
The price of natural gas in Europe fell to almost $1,200 per 1,000 cubic meters for the first time since June 15. This was confirmed by the data of the London Stock Exchange ICE during the morning trading on Tuesday, October 18th.
Thus, the November futures price at the TTF hub in the Netherlands fell to $1,202 per 1,000 cubic meters. m, or 118 euros per MWh (based on the current euro/dollar exchange rate, ICE prices are shown in euros per MWh).
The total decrease in the price of gas since the beginning of the day is more than 7%.
Natural gas is becoming cheaper because EU inventories are close to their maximum, relatively warm weather is settling in the region, and the average share of wind generation in electricity generation has increased significantly.
It will be remembered that on October 17, the price of gas in Europe dropped below $1,400. This happened for the first time since the end of June.
It was also reported that Russian gas exports fell this year. Gazprom exported about 59 billion cubic meters of gas less than a year earlier.
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Source: korrespondent
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