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Gas prices fall from 3-week high on muted demand


24 Nov 2022 12:59

24 Nov 2022 12:59

(Montel) European gas prices on Thursday were retreating from three-week highs seen on Wednesday amid muted demand and strong supply.

The benchmark TTF front-month contract last traded down EUR 5.83 at EUR 123.78/MWh, while the UK equivalent fell 11.72p to 290p/th, though the former rose as high as EUR 133/MWh earlier, just shy of a three-week peak seen yesterday.

“Demand is still quite low... on the other hand supply is strong,” said a Poland-based trader.

European storage levels were last seen around 94.5% full, roughly 1…

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