European Natural Gas Prices Decline Amid Warmer Weather and Robust Imports

Deep News02-24

European natural gas prices fell during early trading, as a mild weather outlook and increased imports alleviated supply concerns. The benchmark Dutch TTF natural gas futures contract dropped 1.7% to €31.28 per megawatt-hour. Analysts at ANZ Bank noted, "Europe is in the final phase of the official heating season, and substantial withdrawals from gas storage facilities have resulted in unusually low inventory levels." "However, liquefied natural gas imports at some Northern European terminals have rebounded recently. Pipeline gas supplies from Norway, Europe's largest single supplier, have also remained strong, easing concerns about a rapid depletion of stocks."

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