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11/7/2022, 4:08 PM (Source: TeleTrader)
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European gas prices slip 6% on weaker demand

The price of European gas futures declined 6% on Monday as weaker demand across the bloc seemingly drove the prices to drop as warmer-than-expected temperatures reduce the consumption of energy.

The European Union and the United States earlier reaffirmed their efforts to reduce reliance on Russian energy ahead of the winter, as the bloc's member states consider a price cap on gas that is to limit the raging costs of the commodity.

UK natural gas futures for delivery in December decreased by 6.19% to 265.510 pence per therm at 3:54 pm CET.

Baha Breaking News (BBN) / AB