Index – Economy – Surprising: good news about gas

By Monday morning, the price of October gas futures on the TTF fell to around 172 euros per megawatt hour, which means a large price drop compared to the previous days. In the morning, the quotation fluctuated between 172 and 179, but at the same time it can be said that

October gas was quoted at a lower price than the current one only nearly two months ago, at the end of July.

Gas prices rose to their peak on August 26, at that time the gas was quoted in October its price reached 338 euros, but since then the price has dropped significantly in recent weeks.

According to Bloomberg, the price drop may be due to the steps taken by the European Union and its member states to alleviate the energy crisis. In addition, according to Saturday’s data, the continent’s gas reservoirs may also play an important role they are filled to an average of 86 percent. In addition, the import of liquefied gas also accelerated due to the fact that the Dutch A new gas terminal was commissioned in Eemshaven.

Even so, it is traded at seven times its price

In addition, the news agency also admitted that despite the current decrease the gas is still on the TTF even now it costs seven times as much as it typically costs at this time of the year. In addition, it can be expected that demand will increase at the beginning of October, with the start of the heating season. For this reason, analysts at Timera Energy, an energy consulting firm, believe that

The European gas market is still dancing on a razor’s edge now that winter is approaching.

The situation is not helped by the fact that, according to forecasts, it will be much colder than usual on the entire continent in the coming days – and the same is true for Hungary as well.

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(Cover image: Tim Graham / Getty Images)