The terrible dream of Russia: in Europe for the first time in two years, the cost of gas collapsed sharply

Reduction of gas prices in the world markets occurs at high gas storage facilities, which is more than 64% of May. Exchange prices for gas in Europe during trading on Thursday, May 18, 2023, were reduced by 3%. The cost of "blue" fuel dropped below $ 350 per thousand cubic meters for the first time in two years. This is evidenced by the data of the Intercontinental Exchange (ICCE). It is known that in the morning the prices for futures according to the TTF index fell by 1.

91% to $ 348 per 1 thousand cubic meters. Such dynamics are the continuation of the previous trading day, when the gas price tag was at the level of $ 357. 8 per thousand cubic meters. Reduction of prices occurs on the background of an abnormally warm winter in European countries and high gas storage facilities. Thus, as of mid -May, the repository filling already exceeds 64%.

It should be noted that in the summer of 2022, natural gas prices in Europe were experiencing sharp jumps towards raising cost. This happened against the background of high demand and fears to the EU related to the stopping of gas "Gazprom" Pipeline "North Stream-1".

The Kremlin expected that against the background of increasing energy prices in Europe, there will be a collapse of the blond economies of the heating season, which would force the European Union to stop Ukraine's support in the war with Russia and persuade our country's leadership to negotiate with Moscow. Meanwhile, in Ukraine, the actual cost of natural gas sales based on April 2023 was recorded at the level of UAH 14 382. 34 for 1 thousand cubic meters.