London:Gas prices in Europe experienced a decline of 2.6 percent, bringing the cost to $928.5 per thousand cubic metres, as indicated by data from the London ICE exchange today. The December futures, marking the nearest contract, commenced trading on the TTF benchmark at $938.3, reflecting a 1.6 percent decrease from the previous day, before settling at the same level compared to the prior trading day's settlement of $953.2.

According to Federation of Arab News Agencies, geopolitical events have gradually elevated gas prices throughout the current year, surpassing the $1,000 threshold last October. This increase coincides with the European Union commencing the new heating season with gas inventories below 75 percent, specifically at 74.56 percent at the beginning of November.

The European Network of Transmission System Operators for Gas anticipates that inventories in underground storage facilities could dwindle to 11 percent of capacity by the conclusion of next winter, provided that restrictions on liquefied natural gas supplies remain in effect.