Last Friday, gas prices in Europe fell below the level of $850 per thousand cubic meters of gas, for the first time since the end of last September.
Gas futures for delivery were traded at the TTF Center in the Netherlands at $844.9 per thousand cubic meters.
The total price drop today is 9%.
Gas prices in Europe are declining after they had recorded record levels, and the decline came after Russian President Vladimir Putin issued instructions to the Russian company, “Gazprom”, to increase gas supplies to Europe.
Russian “Novosti” news agency reported that President Putin instructed “Gazprom” to increase gas supplies to European storage stations, after completing the filling of Russia’s underground tanks.
The gas market in Europe is experiencing a crisis in light of the high demand for blue fuel, the decline in gas stocks in ground storage and the approaching winter.