The price of November gas futures on the Dutch TTF index, the most liquid European hub, reached $1,937 per thousand cubic meters earlier in the day, but then began to roll back sharply.
By 11:35 GMT, the futures fell to $1,325 per thousand cubic meters.
The European Union has seen a spike in natural gas prices over the past few months, driven by growing energy demand amid an economic recovery from months of lockdowns, and a limited supply.