Wholesale gas prices drop 10% despite lack of EU price cap agreement

Prices still remain multiples of levels before the Russian invasion of Ukraine, but are back at prices in July before Russia halted gas supplies.

The Nord Stream 1 Baltic Sea pipeline in Germany 

The price of European wholesale gas slid 10% even as European Union leaders appeared, for the time being, to have failed to agree on some sort of price cap that could alleviate the pressures on household and business bills.

Futures markets showed the price of wholesale gas for delivery next month fell 10% to €157 per megawatt hour and the price for delivery in December was also down to €167.50 per megawatt hour.