(ANSA-AFP) - BELGRADE, MAY 18 - Europe's reference gas price,
which soared following the invasion of Ukraine by major producer
Russia, briefly dropped under 30 euros Thursday, reaching the
lowest level in nearly two years. The price of benchmark Dutch
TTF gas fell to 29.85 euros, a level last seen in June 2021,
with tight supply concerns easing as Europe heads into summer
and after the continent has become less dependent on Russian
energy. After striking the lowest point in 23 months, the
reference price soon recovered to 30.25 euros. "The market
remains well-supplied, with storage levels well above average,"
noted Energi Danmark. The European gas price has plunged by more
than 60 percent since the start of the year. It soared to a
record-high 345 euros in March 2022, shortly after Russia's
invasion in February of last year. (ANSA-AFP).
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European gas price extends drop to under 30 euros
Lowest level in nearly two years