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Europe Natgas Prices Are Poised to Drop Towards Lower Range: Bloomberg

NATGAS

European natural gas futures are hovering around EUR30/MWh and could potentially fall as low as EUR20/MWh, a key support level prior to 2021, according to Bloomberg Intelligence.

  • The recent low of EUR22.31/MWh in February hints at a possible return to this lower range.
  • The lower range can be a low-price curve for European natgas, which has been volatile since Russia’s invasion of Ukraine.
  • Prices may be set for a downturn as net-long positions by hedge funds in TTF reach a two-year high.
  • This rise in speculative interest has stoked concerns about potential liquidation, which could push prices sub EUR20/MWh, Bloomberg said,
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