European gas prices were threatening to sink below €50/MWh for the first time in almost fifteen months as storage across the region hit record levels.
UK prices followed European prices down and were around the £141/MWh mark after dropping 4.6% today.
Storage in Europe is now around 75% of capacity, its highest for months even without any Russian gas being piped.
Dutch gas futures, which are used as the benchmark in Europe, have fallen by 31% in a month while predictions are for demand to weaken further in the next week as temperatures recover again after a cold snap.
US LNG exports are also being tipped to ramp up as terminals reopen after the impact of the 'bomb cyclone' ease, adding further downward pressure on prices.
Deutsche Bank was even predicting today that German storage tanks might be full by July, which would be enough supply for the country to get through unusually cold winters in both of the next two years.