EU Gas Prices Stabilize Below $700 Threshold

European natural gas prices have stabilized after a sharp decline at the beginning of August. The prices are now below $700 per 1,000 cubic meters on the London-based ICE exchange.

The trading dynamics on Wednesday showed relatively steady movements, with European gas futures moving away from the $700 threshold. September futures linked to the Dutch TTF benchmark opened at $654.2 per 1,000 cubic meters, down 1.7%, before rising slightly to $663.7 by 09:58 Moscow time.

The latest movement follows a period of strong volatility in European gas markets. In July, prices increased by almost 20% and surpassed the $700 mark by the end of the month. However, in early August, quotations declined by nearly $40.