Gas prices in Europe collapsed

Gas in Europe continued to get cheaper against the backdrop of abnormally warm weather in the region. During the auction on December 30, the cost of February futures contracts on the TTF hub fell below $ 800 per thousand cubic meters – this happened for the first time since February 11, according to Ice exchange data.

Since the beginning of the day, prices have collapsed by 16 percent. At the lower point, the cost of gas reached $ 791 per thousand cubic meters. At the time of writing, the quotes were slightly adjusted towards the increase, up to $ 801 per thousand cubic meters. Compared to August maximums, when the gas was traded at the level of $ 3,000 per thousand cubic meters, the fuel has become more than four times.