Price of gas in Europe fell below $900 for first time since February 22

The price of natural gas at auctions in Europe for the first time since February 22 fell below $900 per 1,000 cubic metres, despite expectations of rising prices.

This follows from the trading data in the European TTF hub, Gazeta.ru writes.

As of June 6, the value of July futures in the Netherlands fell to $894.8. By the close of trading, its price was $901.33.

On June 6, the head of the Federal Network Agency, Klaus Müller, said that gas prices would continue to rise after Gazprom decided to stop deliveries of fuel to a number of buyers from Europe due to non-payment in roubles.

“The volume of gas freely traded in Europe is likely to gradually decrease. If the screw is tightened further, even in small steps, gas will become even more expensive, ”Müller said.

In his opinion, at the moment there are no fears that Russia may stop gas supplies to Germany, but now only short-term forecasts can be made.