Natural gas price falls, nears pre-war values ​​in Ukraine – Executive Digest

The reference price of natural gas TTF (Title Transfer Facility) was this Monday at 2:10 p.m. at 121.1 euros per megawatt hour (MWh), continuing its downward trend since March 7.

It is recalled that on March 7, the price of natural gas reached historic highs, beating the 345 euros per MWh.

In an analysis of the conflict period, natural gas was at 88 euros per MWh the day before the Kremlin attack on Ukraine, after climbing on February 24 to 132 euros per MWh. Since March 25, there has been a steady increase to the all-time high.

Source: ICE

Now at 121.1 euros per MWh, the price of natural gas is approaching the value recorded before the start of the war, maintaining a downward trend.

Energy prices in Europe soared after Russian forces attacked targets across Ukraine, prompting Western governments to promise more sanctions in response. Russia launched a full-scale invasion of Ukraine after President Vladimir Putin pledged to “demilitarize”, “denazify” the country and replace its leaders.

It is recalled that at the end of 2021 natural gas reached record levels of 180 euros per MWh, a figure which was largely exceeded during the conflict.

With Russia being Europe’s main source of gas, a Europe-wide energy crisis is looming and will affect not only gas prices, but also electricity and oil prices.

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