https://sputnikglobe.com/20221220/gas-futures-in-europe-fall-to-1100-per-1000-cubic-meters-in-first-since-november-17-1105638219.html
Gas Futures in Europe Fall to $1,100 Per 1,000 Cubic Meters in First Since November 17
Gas Futures in Europe Fall to $1,100 Per 1,000 Cubic Meters in First Since November 17
Sputnik International
MOSCOW (Sputnik) - Exchange gas prices in Europe continued to drop by 7% on Tuesday afternoon, falling below $1,100 per 1,000 cubic meters for the first time... 20.12.2022, Sputnik International
2022-12-20T10:59+0000
2022-12-20T10:59+0000
2023-04-12T17:04+0000
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January futures at the largest European gas hub TTF opened trading in the red at $1,150.2 per 1,000 cubic meters (-3.3%), the data showed. The dynamics of quotations is based on the estimated price of the previous trading day, which stood at $1189.7 per 1,000 cubic meters, according to the data. On Monday, EU energy ministers reached a political agreement on a temporary mechanism to limit excessive gas prices, setting a price cap at 180 euros ($191) per megawatt-hour (MWh). It will be automatically activated when the month-ahead price at the TTF exceeds 180 euros per MWh for three working days and when this price is 35 euros higher than the reference price for liquefied natural gas on world markets. The decline in gas prices in Europe is caused by the cooling of the market due to a high occupancy rate for underground storage facilities, but European countries may still face a new price surge, analysts told Sputnik. Meanwhile, gas quotations are several times higher than they were in 2021. However, back in early March, gas quotations hit historical highs for four days in a row due to fears that the import of Russian energy resources would be banned. On March 7, the price reached a record level of $3,892 per 1,000 cubic meters.
https://sputnikglobe.com/20221220/eus-gas-market-correction-mechanism-calculated-until-february-2024-council-1105628429.html
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Gas Futures in Europe Fall to $1,100 Per 1,000 Cubic Meters in First Since November 17
10:59 GMT 20.12.2022 (Updated: 17:04 GMT 12.04.2023) MOSCOW (Sputnik) - Exchange gas prices in Europe continued to drop by 7% on Tuesday afternoon, falling below $1,100 per 1,000 cubic meters for the first time since November 17, according to data from the London-based ICE exchange.
January futures at the largest European gas hub TTF opened trading in the red at $1,150.2 per 1,000 cubic meters (-3.3%), the data showed.
The dynamics of quotations is based on the estimated price of the previous trading day, which stood at $1189.7 per 1,000 cubic meters, according to the data.
On Monday,
EU energy ministers reached a political agreement on a temporary mechanism to limit excessive gas prices, setting a price cap at 180 euros ($191) per megawatt-hour (MWh). It will be automatically activated when the month-ahead price at the TTF exceeds 180 euros per MWh for three working days and when this price is 35 euros higher than the reference price for liquefied natural gas on world markets.
20 December 2022, 06:39 GMT
The decline in gas prices in Europe is caused by the cooling of the market due to a high occupancy rate for underground storage facilities, but European countries may still face a new price surge, analysts told Sputnik. Meanwhile, gas quotations are several times higher than they were in 2021.
However, back in early March, gas quotations hit historical highs for four days in a row due to fears that the import of Russian energy resources would be banned. On March 7, the price reached a record level of $3,892 per 1,000 cubic meters.
