Euro natural gas prices fall

Frankfurt (dpa) — The price of European natural gas dropped dramatically on Friday to its lowest level in a year ahead of the summit meeting between the presidents of the United States and Russia.

The benchmark TTF futures contract for delivery in one month on the Amsterdam exchange was trading at €31.11 ($36.43) per megawatt hour (MWh) in the afternoon.

Natural gas was last cheaper in July 2024. The commodity markets are eagerly awaiting the results of the meeting between US President Donald Trump and Russian President Vladimir Putin, which is set to take place in the US state of Alaska on Friday.

The talks could provide decisive momentum for a ceasefire in Moscow’s war against Ukraine and, consequently, for the sanctions imposed on Russia.

Russia is the world’s second largest producer of natural gas, behind the US, according to the International Energy Agency.