Gas prices in Europe fell by more than 12%

Gas prices on European stock exchanges fell by more than 12% in early trading on Monday, while futures contracts fell below $1,600 per thousand cubic meters.

Futures contracts for the month of August on the TTF index opened today’s trading session at $1660.5 per thousand cubic meters of gas, after a short period of time prices fell to $1608.3, recording a decline of 12.1%.

Gas prices in Europe doubled over the month: on June 10, prices were at $903.8, then jumped to $1,300, and by the end of last month, approached $1,600, and in early July reached $1,900.

And gas prices in Europe four months ago recorded the highest level in history, reaching $3,892 per 1,000 cubic meters on March 7.

Markets are now closely monitoring the situation with natural gas supplies via Nord Stream 1 (a pipeline from Russia to Germany under the Baltic Sea), and as of today (July 11, 2011) gas pumping along this route has been stopped. 2022) until July 21, due to renovations that were planned in advance.

On the other hand, Canada confirmed that it intends to allow the supply of equipment (turbines) to Germany, specifically for the operation of the Nord Stream 1 pipeline, after it was detained under the pretext of Western sanctions imposed on Russia.

Source: RT+Prime