European Natural Gas Prices Drop as Wind Power Soars

European benchmark natural gas prices fell around noon local time on Tuesday as the region’s first colder wave brought a lot of wind and powered a higher share of electricity in key markets. The Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, were down by 2.4% at $40.17 (36.43 euros) per megawatt-hour (MWh) at 11:41 a.m. in Amsterdam. Gas prices were set for their first daily drop in four trading days amid higher wind power generation, which generally limits demand for gas for electricity. However, the first autumn…