Wholesale gas prices slide by 8% across Europe

Gas storage across Europe is 84% full, far above the five-year seasonal norm of 70%, according to Gas Infrastructure Europe.

A warmer-than-expected start to winter in large parts of the world that could linger for weeks is easing fears over gas supplies that had been predicted to trigger outages and add to power bills. 

Gas futures are plummeting on reduced fuel consumption and the weaker outlook. The spot prices of wholesale continental European gas slid 8% to €70.80 per megawatt hour, the equivalent British contract also fell 8%, while US prices dropped as much as 12% on Tuesday.