Gas price in Europe drops below $1,100 for first time since June 15

The price of gas in Europe fell below $1,100 per 1,000 cubic meters for the first time since June 15, according to London’s ICE. The November futures price at the TTF hub in the Netherlands fell to $1,090.5 per 1,000 cubic meters or 107.355 euro per MWh. Since the start of trading on Tuesday the gas price dropped by almost 16%. However, the sharp price drop was short-lived, and by 07:30 p.m. Baku time it returned to the $1,150 area again.