By Bernard Padoan
HASn last August, European consumers watched with dismay as the gas price curve soared to unprecedented heights, approaching the 350 euro/MWh mark on the Rotterdam market. Today, the anguish has given way to relief. Since last summer’s peak, the TTF contract for one-month delivery – which serves as a benchmark for establishing gas prices on the Old Continent – has lost more than 80%, appearing on Tuesday a little below the 60 euro mark. During the session, the TTF even traded at less than 52 euros/MWh for a few moments, before recovering.
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