How are natural gas prices calculated?

Some years ago, the price of natural gas was indexed to the price of crude oil. In recent years, this has changed and a number of trading hubs and exchanges have developed across Europe which serve as spot markets and reference gas prices. The euro/dollar exchange rate also influences prices, since oil products are normally traded in dollars. Other factors that influence gas prices are mainly a function of market supply and demand, including natural gas production, net imports, underground storage levels, economic conditions, weather conditions and petroleum prices.

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