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The price of gas per megawatt-hour in February futures contracts on the TTF, the Netherlands-based virtual natural gas trading venue with the most depth in Europe, fell by 6.49% on a daily basis, to its lowest level since Aug. 4 last year.
The gas price per megawatt-hour for February futures contracts on the TTF fell to €29.91.
Forecasts of rising temperatures towards the end of January and the abundance of natural gas in storage have tempered supply concerns stemming from conflicts in the Middle East and resulted in declines in natural gas prices in Europe.
Natural gas storage in Europe is 79.74% full as of Jan. 13.
