Gas prices on Amsterdam’s TTF market fell below €90 for the first time since October 22. December futures were down 7.64% at €87.50 per megawatt-hour.
European gas storage recorded its first weekly drop, falling to 74.56% of capacity, or 844.25 terawatt-hours, as colder weather prompted withdrawals. Germany’s reserves stood at 61.05%, or 151 TWh, while Italy’s were at 91%, or 185.11 TWh, the highest available level among the countries cited.
The decline in prices began the previous day after Iran announced it was willing to reopen the Strait of Hormuz “within 48 hours.”
Sources: ANSA Economia.