Natural gas prices in Europe have plummeted thanks to a rising gas export war between Russia and the US, much to the delight of European consumers. European natural gas prices are at a historical low and below the cost of shipping gas from the US to Europe. In May, prices remained just above this floor, fetching around $4.20 per million British thermal units (MMBtu). But this floor seems to be crumbling , if not collapsing, now that the Dutch front month gas price (TTF) has hit a fresh low of $3.20 per MMBtu – the lowest price since the TTF began trading on the Dutch market in March 2010, according to Rystad Energy. “It’s a buyer’s market, and Europe is buying,” says Carlos Torres-Diaz, head of gas markets research at Rystad Energy. “The clear winners from the war between these two gas powers are the European end consumers, who […]