Gas price in Europe drops to $780 per 1,000 cubic meters when markets open Wednesday – Business & Economy

MOSCOW, February 16. /TASS/. The price of gas in Europe continued to fall as markets opened on Wednesday, falling to around $780 per 1,000 cubic meters, according to trade data from ICE London.

The price of gas futures for March delivery to the TTF hub in the Netherlands fell to $777.7 per 1,000 cubic meters, or €66.21 per MWh (based on the current exchange rate of the euro against the dollar, the prices at ICE are in euros per MWh).

To date, the price of gas has partially recouped the losses, standing at $793. The total fall in the price of gas since the opening of the markets has reached approximately 5%.

The day before, the price of gas in Europe fell below $800 per 1,000 cubic meters for the first time since December 31, 2021, following talks between Russian President Vladimir Putin and German Chancellor Olaf Scholz.

Concerns about Moscow’s alleged preparations for an invasion of Ukraine have been increasingly heralded in the west and in Kyiv recently. Kremlin spokesman Dmitry Peskov slammed the statements as an empty and baseless escalation of tension, stressing that Russia poses no threat to anyone. At the same time, the Kremlin press secretary did not rule out possible provocations to justify such claims and warned that attempts to resolve the Ukrainian conflict by force would have extremely serious consequences.