Exchange prices for gas in Europe fell by five per cent
Economy
The price of gas on the exchange in Europe fell by five per cent by the end of trading on 27 November.
December (near-term) TTF futures opened trading at $522 per thousand cubic metres (-0.8%). On Monday, the highest price was $522.2 (-0.8%) and the lowest price was $492.2 (-6.5%). The last futures traded at $500.4 (-4.9%).
The period of high gas prices on the European exchange lasted from 2021-2022. Such sustained high prices have not been seen in the history of Europe's gas hubs since 1996. Historic record prices of $3892 per thousand cubic metres were reached in the early spring of 2022 and moved to a steady decline in the autumn of the same year. At the end of the third quarter of this year, they averaged around $380 per thousand cubic metres.
The period of high gas prices on the European exchange lasted from 2021-2022. Such sustained high prices have not been seen in the history of Europe's gas hubs since 1996. Historic record prices of $3892 per thousand cubic metres were reached in the early spring of 2022 and moved to a steady decline in the autumn of the same year. At the end of the third quarter of this year, they averaged around $380 per thousand cubic metres.
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