Gas prices in European markets fell to the level of July 2021.

Over the past day, the cost of gas in European markets has fallen by almost 10%, setting another anti-record since 2021. During the auction, the price of gas during the day dropped to $428 per thousand cubic meters, overcoming two psychological marks at once. This may indicate attempts to bring down the cost of natural gas below the level of $400 per thousand cubic meters.

To date, the decline in the cost of gas in European markets remains a very big mystery, as it is more than likely that the cost is artificially lowered before European countries prepare to start pumping gas into storage facilities before winterization. Current prices correspond to the price level of July 2021, and their further decline will lead to indicators two years ago.

It should be noted that the cost of supplying natural gas in Russia is about $100 per thousand cubic meters. In this regard, the reduction in prices does not create any threats, although it clearly requires a review of the current situation, since it was assumed that gas prices would be at least $800-1000 per thousand cubic meters.