Madrid, May 26 (EFECOM).- Natural gas has fallen 17.8% in the week and closed at 24.6 euros per megawatt-hour (MWh), thus returning to final levels for the first time May 2021.
At the close of the session, the raw material has finished trading at 24.6 euros per MWh, 2% less than the day before and the lowest price for just two years, according to Bloomberg data consulted by EFE.
So far this year, characterized by high temperatures and the abundance of natural gas in the deposits of European countries, it has fallen by more than 60%.
Natural gas, whose trading reference is the Dutch market, had not reached such a low price since spring 2021, when it began to rise, especially since last September, with the first delays in gas deliveries from Gazprom, the largest supplier. of Europe.
Prices continued to rise as tensions between Russia and Western countries increased and military movements began on the Ukrainian border, and spiked with the March 2022 invasion and in the months that followed.
Thus, in August of that year it marked its historical maximum at more than 350 euros per MWh, at a time of strong demand from Europe to face the winter with its reserves as full as possible.
The price of natural gas is highly seasonal and tends to drop a lot in spring and summer; On the other hand, since the beginning of the year, most of the raw materials have fallen in price for fear of a recession as a result of the impact of the interest rate hikes adopted by the central banks to combat inflation. EFECOM