Over the last week, European natural gas prices have been trading at levels not seen since prior to Russia’s invasion of Ukraine in February 2022. TTF prices, the European benchmark, have been trading below €75/MWh since the 2nd of January. Given the record price highs of over €330/MWh in late August 2022, the decline in prices has been welcomed across Europe, particularly by consumers who hope for a reduction in their domestic energy costs. At this stage, it is worth examining the key reasons for the fall in natural gas prices…
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