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Gas price in Europe falls below $500, first time since December 27

The total price decline since the beginning of the day reached about 2%

MOSCOW, January 7. /TASS/. Gas price in Europe during exchange trading on January 7 fell below $500 per 1,000 cubic meters for the first time since December 27, according to data from London's ICE exchange. The total price decline since the beginning of the day reached about 2%.

The price of February futures at the TTF hub in the Netherlands fell to $495.6 per 1,000 cubic meters or 46 euro per MWh (based on the current euro-dollar exchange rate, ICE prices are presented in euro per MWh).

The price of gas in Europe gradually increased in late December in anticipation of the end of Russian gas transit through Ukraine.

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