14:17 19 May 2023
Gas in Europe cheapest in nearly two years
At the end of las week, gas prices on the European market dropped to their lowest level since June 2021. Last year's upward chaos has been completely reversed, which may suggest that the continent is emerging from the energy crisis caused by the Russian invasion of Ukraine, according to Bloomberg.
Gas prices are currently at a level that is only 10 percent of what was recorded after Russia limited its supply to the European market following the attack on Ukraine. They are now close to the five-year average.
Despite appearing very favorable for buyers, demand remains subdued. Some experts warn of the risk of rather exaggerated price reactions if there are sudden changes in supply or currently underestimated demand.
