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EU Gas Prices Facing Pressure

NATURAL GAS

EU natural gas prices are sinking against easing temperatures while LNG imports soar and inventory levels provide a level of optimism after Europe’s first real winter test.

  • Benchmark futures dropped as much as 6.4% on Friday.
  • European gas reserves remain fuller than normal at about 86%.
  • Temperatures are set to drop in the short-term, but the UK and Nordics are forecast for another cold snap around Christmas.
  • EU ministers are still struggling to come up with a price level for its proposed cap. It is expected Monday.
  • TTF JAN 23 down -5.5% at 127.31€/MWh.

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