European gas futures fall below 50 euros per MWh for the first time in 18 months

MADRID, 17 Feb.

European gas futures fall below 50 euros per MWh for the first time in 18 months

MADRID, 17 Feb. (EUROPA PRESS) -

The European natural gas futures contracts, traded on the Dutch TTF platform, fell below 50 euros per megawatt hour (MWh) this Friday, something that had not happened since August 2021.

Specifically, the reference price fell to 48.88 euros per MWh, which represents a decline of more than 85% in relation to the maximum costs reached last year after the invasion of Ukraine and the cut in supply since Russia, although it is still above the historical range of between 10 and 30 euros.

The lower gas prices reflect the impact on demand of a winter with notably milder temperatures than usual, as well as the high level of fuel supplies in Europe in the face of the Russian threat.

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