European gas prices fall by nearly 4%

Gas prices in Europe fell by nearly 4% during the first trading session of the new month, dropping to $676 per 1,000 cubic meters.

According to Report, which cites London-based ICE exchange, September futures for the TTF index - Europe's largest gas trading hub located in the Netherlands - opened at $666.7 per 1,000 cubic meters, down 5.2%. The price later settled at $675.5, marking a 3.9% decline.

The price movement was calculated against the previous trading day's settlement price of $703.2 per 1,000 cubic meters.

European gas prices began rising on March 2, the first trading day after the start of US and Israeli strikes on Iran. Average exchange prices in March ultimately increased by nearly 60% compared with February, exceeding $600 per 1,000 cubic meters for the first time since February 2023.