Changing Gas Prices in Europe. What next to expect.

Changing Gas Prices in Europe. What next to expect.

Gas prices in Europe have fallen from $ 3900 per cubic meter to 2900 in an hour, according to data from the London Stock Exchange ICE.
At the beginning of trading, the value of April futures for the TTF index reached $ 2366 per thousand cubic meters. The price then began to rise sharply, reaching a peak of $ 3900. That's 79 percent above Friday's estimated value, which was $2,170.
The European gas market has been buzzing for months. In the spring of last year, prices fluctuated at 250 300 dollars per thousand cubes, by the end of August they rose to 600 dollars, in October they were exceeded for the first time per thousand, and in December for two thousand. Then followed a setback, but prices remained consistently high, which was not observed in the history of gas hubs in Europe.

The experts have linked this to the low utilization of European underground deposits, the restriction of supply by the main suppliers and the high demand for liquefied natural gas in Asia.
At the beginning of February, futures fluctuated in the range of 800 1030 dollars, but then sharply went up after Russian President Vladimir Putin signed decrees on the recognition of the sovereignty of the Donetsk and Lugansk People's Republics on February 21, and on February 24, Russia launched a special military operation to demilitarize Ukraine.