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Gas prices drop amid record high storage levels


04 Nov 2022 12:35

04 Nov 2022 12:35

(Montel) European gas prices fell on Friday amid record high regional storage levels following low demand in October, though a cooler outlook was set to provide some upside next week.

On the Dutch TTF hub, the front month last traded EUR 4.82 lower at EUR 120.63/MWh, while the day-ahead contract slipped EUR 12.65 to EUR 62/MWh in brokered trade.

In the UK, the corresponding contracts were down 14.42p to 297p/th and 8p to 110p/th, respectively.

“Europe has won the battle to fill its storage ahead of winter, taking in more than 50bcm of extra LNG during January-October alone,”…

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