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- Natural gas prices in Europe declines as supply grows
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29.12.2021
Natural gas prices in Europe declines as supply grows
Bloomberg notes, that the European gas prices demonstrated a decline for the sixth straight day on Wednesday, as cargoes of the liquefied fuel were going to the continent.
According to the report, a flotilla of U.S. LNG cargoes is headed to the Europe, while several vessels that were sailing to Asia have now diverted to Europe.
The European gas prices jumped more than 400% in 2021, in part due to the fact that Russia curbed flows amid a rebound in demand.
Europe's benchmark gas price - Dutch TTF Gas Futures - dropped to EUR96.22 a megawatt-hour earlier today, but then erased most of the decline. At the moment, the prices are trading at EUR104 per megawatt hour.
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