Europe’s natural gas prices have tumbled to their lowest level in nearly 18 months in the latest sign the region has avoided a much-feared energy crisis
. Benchmark wholesale gas prices fell almost 5% Friday to hit €49 per megawatt hour, their lowest level since September 2021 and a fraction of the all-time high of €320 hit in August last year, according to data from Independent Commodity Intelligence Service.
“It’s still relatively expensive, compared with the pre-crisis long-term average, but current price levels do not reflect a risk of shortages anymore, as they did much of last year.
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