Natural gas prices in Europe drop below EUR 40/MWh

Front Month (April resource) natural gas futures prices on the Dutch TTF fell below EUR 40/MWh during trading on Thursday, March 6, reaching EUR 39.7/MWh, according to ICE data.

This is announced by the ExPro publication, Ukrainian News Agency reports.

Compared to the previous day, natural gas prices in Europe decreased by 4.5%, and compared to the beginning of the week - by 12%.

These are also the lowest prices on the Dutch TTF in the last 11 weeks.

It is noted that, first of all, the decrease in natural gas prices in Europe is associated with a noticeable warming on the continent, which came with the beginning of March.

In addition, the volume of electricity production from wind also increased, which reduced the demand for gas for electricity generation.

Natural gas supplies to Europe remain stably high, which supports the region's gas balance and contributes to a decrease in prices.

The report says that the important news was the postponement of the publication of the European Commission's roadmap for abandoning russian energy resources, in particular natural gas.

And investment funds continue to close positions by selling natural gas, which leads to a decrease in prices for the resource.

Currently, the positions of investment funds are the lowest since July.

As Ukrainian News Agency earlier reported, the volume of gas in the European Union's storage facilities in February 2025 is about 24 billion cubic meters, which is 36% less than at the same time last year.