The gas price in Europe remains below 40 euros per megawatt hour, now that milder temperatures are predicted again and the supply of LNG remains high.
On the leading Dutch futures market, the price for natural gas drops to 38.4 euros per megawatt hour on Wednesday, or the lowest price in months. Traders assume that gas will be traded below the mark of 40 euros per megawatt hour until August. That is well below the peak of 300 euros in August last year, but still a lot more expensive than before the war in Ukraine.
Now that milder temperatures are once again on the horizon, the demand for natural gas for heating will decrease. The supply of gas also remains high. Deliveries of liquefied natural gas to northwestern Europe are at their highest level in two months.