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22/05/2020

European wholesale gas prices fall to fresh record lows

European gas markets have fallen to fresh record lows as the impact of the coronavirus pandemic continues to erode the demand for fossil fuels.

In the UK, the wholesale market price for gas delivered next month fell to 9.25 pence per therm, its lowest in 21 years, raising hopes that winter heating bills may be lower this year.

Gas markets in Asia, Europe and the US have all slumped after being left awash with a glut of gas owing to the collapse in demand.

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(Source The Guardian)