Gas price in Europe drops to $470 per 1,000 cubic meters

Natural gas prices in Europe dropped to $457 per 1,000 cubic meters for the first time since late July 2021, according to London-based ICE data.

April futures at the TTF hub in the Netherlands lost more than 6% and declined to $457 per 1,000 cubic meters or to 41.4 euro per MWh.

Gas prices are falling amid the fairly warm weather in the region during the current heating season. Reserves in underground gas storages of the EU are record-high for this season of the year. Storages are now filled by 59.24% and contain 64.32 bln cubic meters of gas.