Natural gas Europe reference prices have dropped to their lowest level in almost two years, due to milder weather forecasts over the next few weeks and the US peace plan on Ukraine.
The TTF Dutch natural gas contracts closed 1.25% down on the Amsterdam market at 30,31 euro per MWh.
It was the biggest drop in reference natural gas prices since May 2024, as the latest weather models predict higher December temperatures following the current deep freeze in northern Europe.
The European natural gas future contracts had been trading at 32 euro for a number of months.
Traders are closely monitoring peace plan talks, as possible success could lead to relaxations in energy sanctions against Russia.