The price of gas in Europe during today's trading decreased to almost $1,200 per 1,000 cu.m. for the first time since June 15, according to data from London's ICE exchange.

The cost of November futures on the TTF hub in the Netherlands has dropped to $1,202 per 1,000 cubic meters, or €118 per MWh (based on the current euro/dollar exchange rate, ICE prices are in euros per MWh).

The overall decrease in the price of gas since the beginning of the day is more than 7%.

The decrease in the price is due to the EU gas reserves approaching their maximum, the establishment of relatively warm weather in the region and the significantly increased average share of wind generation in power generation.