MOSCOW, April 7. /TASS/. The price of gas in Europe dropped below $400 per 1,000 cubic meters on Monday for the first time since September 23, 2024, according to data from London’s ICE. Growth since the beginning of the day has reached around 2%.

The price of May futures at the TTF hub in the Netherlands declined to $382 per 1,000 cubic meters or 33.555 euro per MWh (based on the current exchange rate of euro to dollar, prices for ICE are presented in euros per MWh).

Gas prices are falling following oil prices. Oil prices began to decline on April 3, when US President Donald Trump announced the introduction of customs duties on products from 185 countries and territories, while eight OPEC+ countries agreed to accelerate oil production growth in May by 411,000 bpd instead of the planned 135,000 bpd. Since then, the Brent price has already fallen by more than $10 and dropped below $63 per barrel for the first time since April 2021. In addition, in April, due to warm weather, Europe began a period of active gas injection into underground storage facilities (UGS) after the end of the heating season. At the same time, Europe continues to import LNG at a record pace following the all-time high set in March.