The Price of Natural Gas in Europe has Collapsed - It is already Below 100 Euros
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Loading... - Gabriele Romano
- 25 Oct 2022
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Natural gas in Europe became cheaper by nearly 17 percent in just one day, and the deals are already at a price below 100 euros per megawatt hour. This is the first time since mid-June, according to data from London's ICE stock exchange.
The price of blue fuel is already lower than last year at this time.
The November futures of the Dutch gas hub TTF are trading at levels below 96 euros per megawatt hour as of 16:00 p.m. Bulgarian time - a decrease of almost 17 percent in just one day. Within the last month alone, the blue fuel became cheaper by more than 43%, and compared to the record high of 342 euros per MWh from August 26 - by more than 70%.
According to analysts at Engie's EnergyScan, the current downward price trend will remain in place for the next few weeks as Asia, and in particular, China, should continue to curb LNG imports and European LNG prices should remain higher than the Asian benchmark known as the Japan-Korea Marker (JKM). Read More...
