European gas prices fall to pre-Ukraine war level

Milder winter, alternative imports and energy reduction cuts demand after Russian invasion pushed up prices

European gas prices have dipped to a level last seen before Russia launched its invasion of Ukraine in February, after warmer weather across the continent eased concerns over shortages.

The month-ahead European gas future contract dropped as low as 76.78 per megawatt hour on Wednesday, the lowest level in 10 months, before closing higher at 83.70, according to Refinitiv, a data company.