Gas Futures In Europe Drop Below $1600 First Time Since July 21, Losing Almost 5% - ICE

Gas Futures in Europe Drop Below $1600 First Time Since July 21, Losing Almost 5% - ICE

MOSCOW (UrduPoint News / Sputnik - 05th October, 2022) Gas stock prices in the European market dropped below $1600 per 1,000 cubic meters on Wednesday for the first time since July 21, according to data shared by the ICE stock exchange in London.

Earlier in the day, Gazprom announced that the supplies to Italy were resumed.

Gas supplies under the Gazprom Export contracts via Austria to Italy were halted on October 1 due to the refusal of the Austrian operator to confirm transport nominations following regulatory changes in Austria going into effect in late September.

TTF stock futures reached a low of $1,700 (+1.5%) at the opening and dropped to $1,609 (-3.9%) as of 08:17 GMT after Gazprom's announcement. So far, the maximum prices have risen to $ 1,730 (+3.3%).