High inventories are helping to limit the recent rise in gas prices. Earlier this month, gas prices rose sharply due to concerns about possible disruptions in the supply of Russian gas, which is still delivered to Europe via Ukraine. As a result, gas prices rose to the highest level since early December last year.
The price of gas for September supply was hovering around 38 euros per megawatt hour on the Amsterdam Gas Exchange on Wednesday morning. This is the lowest level in two weeks. At the beginning of this month, the price of gas was over 40 euros. On Tuesday, the price of gas fell by 4.7 percent. This was the biggest drop in prices since June.
