Gas prices in Europe dropped by about 3 percent, falling below $600 per thousand cubic meters for the first time since August 31, 2021. February gas futures on the TTF index (the largest hub in Europe located in the Netherlands) decreased by 3.2 percent to $559. The futures had opened on Tuesday at $728.6 per thousand cubic meters. The decline in gas prices comes amid rising temperatures, as experts indicate that the drop is linked to the increase in temperatures and greater wind energy generation. Despite the current decline, gas prices in Europe are still about twice the average of many years.
Drop in Gas Prices in Europe
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