Natural gas prices fell in Europe at the beginning of trading, on Monday, to the lowest level since last June, driven by the continued flow of supplies, large reserves and mild weather.
The price of the Dutch gas contract for the month of nearest maturity was about 116.5 euros per megawatt hour, the lowest level since last June, and down by more than 2.6 percent compared to the closing of Friday’s trading.
Also, the decline in prices comes after a decision by the Russian energy company, “Gazprom”, not to limit gas shipments to Moldova via Ukraine, which eased fears of a possible worsening of supplies.
Despite the mild weather in most parts of the European Union, meteorological forecasts indicate a decline in temperatures starting next December, which means an increase in demand for energy sources.
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The percentage of storage facilities in most of the 27-nation union is about 100 percent full, while Germany has exceeded the full rate.
