European gas prices plunge another 10%

European gas prices fell after the opening on August 30 and are now below $
2,550 per thousand cubic meters, according to the Intercontinental Exchange (ICE) in London.
Since the opening of the day, natural gas prices have fallen by more than 10%
overall.
The Dutch TTF index September futures fell to $2,539 per thousand cubic meters, or 245 euros / MWh
.

Data from London's Intercontinental Exchange (ICE) last week showed that European natural gas trading prices hit a new high in nearly half a year, at one point exceeding $3,500 per thousand cubic meters
.
On March 7, 2022, natural gas was trading near an all-time high of $3,900
.
Russian media analysis, the rise in European natural gas prices is because the only remaining gas compressor in Russia's "Nord Stream -1" natural gas pipeline needs to be overhauled, and it is expected that the gas pipeline will stop supplying gas for three days
from August 31.

In order to follow the US sanctions against Russia, the EU has gradually reduced imports of Russian energy
.
However, EU countries have long been highly dependent on Russian energy supplies, and as the weather cools, energy supplies become more tight
.
Russian experts previously said that in the face of a sharp drop in temperature or insufficient gas storage, the price of natural gas in Europe this winter may exceed the historic $5,000 / thousand cubic meters
.