The price of natural gas in Europe dropped below $850 per 1,000 cubic meters for the first time since the end of September. Prices edged lower after Russia said it would start sending more gas to Europe in less than two weeks.
According to trading data from the Intercontinental Exchange (ICE), the price of December gas futures on the Dutch TTF index was trading at $844.90 per 1,000 cubic meters, or €70.135 per megawatt hour in household terms, marking a drop of 9.5%. However, the benchmark remains almost five times higher than a year ago.
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