European gas prices at wartime low

European gas prices accelerated their decline due to rising temperatures and signals from Russia that ruble and gas payments would not start next month.

Dutch gas futures, the benchmark for European gas, fell 12 percent to 84 euros per megawatt hour. Thus, the lowest level was recorded since the beginning of Russia's invasion operation against Ukraine.

While the eyes in the gas market were turned to Russian President Vladimir Putin's request for gas payments from unfriendly countries in Russian rubles, the European Union drew attention to the fact that making these payments in rubles could be a violation of the sanctions.

Kremlin Spokesperson Dmitry Peskov stated on Monday that there is a little more time for gas payments in rubles.

After Russia's invasion of Ukraine, with the effect of the winter season, European gas prices were tested at the level of 227 euros.