Gas price in Europe drops below $450 first time since late July 2021

The price of gas in Europe at exchange trading fell below $450 per 1,000 cubic meters for the first time since the end of July 2021, according to data from London’s ICE exchange.

The price of April futures at the TTF hub in the Netherlands fell to $443 per 1,000 cubic meters or 40.6 euro per MWh (based on the current euro/dollar exchange rate, ICE prices are presented in euro per MWh).

Despite some cooling in early spring, the region has experienced relatively warm weather during the current heating season, which contributes to the drop in gas prices.