European gas prices have finally dropped

16.09.2021

Gas prices in Europe began to plummet after earlier setting several records. This is evidenced by trade data. By the time this post was published, the October futures price at the TTF hub in the Netherlands was $749 per thousand cubic meters.

In the course of trading on September 15, the price rose above $900, then quotations dropped to $800 per thousand cubic meters.
The reason for the panic on the European gas market was the lowest volume of fuel in gas storage facilities in recent years, as well as difficulties with supplies. A substantial portion of liquefied natural gas (LNG) continues to go to the Asian market, and Russian Gazprom refuses to substantially increase supplies through Ukraine, despite the demand.