Natural gas futures prices fell in European trading today, Monday, as concerns about the lack of supplies compared to demand at the peak of the consumption season during the winter subsided, bringing prices to their lowest levels since last August.
Dutch contract prices, which are the standard contracts for the European market, fell today by 8.5% to less than 30 euros per megawatt-hour, according to CNBC.
While prices are still more than double their usual winter levels before the Russian invasion of Ukraine in late February 2022, which pushed oil prices that year to massive levels, they are now well below the high levels they recorded in 2022.
Last year, Europe recorded record reserves of natural gas, while withdrawal rates were relatively low due to weak economic activity on the continent, which reduced demand for energy.
