European natural gas prices fell below €40 per megawatt hour for the first time since the start of the energy crisis, easing pressures on consumers while warning of a slowing economy.
The TTF benchmark fell almost 8 per cent to €39.96/MWh on Monday, the first time European gas prices have been below €40 since July 2021.
Gas prices have tumbled since peaking in August last year at more than €340/MWh as Europe sourced alternative gas to Russian supplies while a mild winter kept storage sites relatively full.
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