European Gas Drops Below €30 for the First Time Since May 2024

Bloomberg.com · last updated November 23, 2025 – 10:13 PM

European natural gas dropped below €30 a megawatt-hour for the first time in more than a year amid discussions about a potential end to Russia’s war in Ukraine.

Benchmark futures hit the lowest levels since May 2024. They had been trading in a narrow band for weeks as traders weighed the region’s ample supplies against frequently shifting weather forecasts, assessing whether there’ll be enough gas to get through winter.

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