EUROPE GAS-Benchmark Dutch prices fall to 2025 low, breaches 40 euros/MWh

LONDON, March 6 (Reuters) - Dutch wholesale gas prices fell on Thursday afternoon below 40 euros for the first time this year, reversing its earlier gains amid a wider sell off across the market.

The benchmark front-month contract at the Dutch TTF hub TRNLTTFMc1 was down 2.42 euros, at 38.58 euros per megawatt hour (MWh), or $12.25/mmBtu, by 1500 GMT, its lowest early November 2024, according to LSEG data.

The May contract TRNLTTFMc2 also fell 3.33 euros to 38.53 euros/MWh.

British day ahead contract TRGBNBPMc1 was down 4 pence at 95 pence/therm, while the April contract TRGBNBPMc1 was down 1.59 pence at 97.9 p/therm.

Energy markets have been volatile over the past few weeks, with the threat of tariffs on products exported to the U.S. weighing on economic growth forecasts and expectations for gas demand.

Oil prices reach their lowest levels since December 2021 in earlier trade and remained below $70 a barrel on Thursday afternoon.

In the European carbon market, the benchmark contract CFI2Zc1 was down 1.54 euro to 67.26 euros per metric ton.