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European Gas Reversing Some of It's Recent Losses

NATURAL GAS

European gas prices are finding more momentum today as they reverse some of the recent sell off.

  • European gas prices have been under pressure because of warm weather in Europe, full storage levels and a raft of LNG vessels off its shores waiting to offload.
  • Demand figures in Europe also show that the region has slashed its usage – lining Europe up for a near best case scenario under the circumstances as it has scrambled to adapt to life without Russian gas.
  • Gas markets remain poised to jump on any signs that European gas may be under pressure and European leaders know the region still has many hurdles to cross this winter with any supply disruption capable of sending the markets skyward.
  • TTF NOV 22 up 6.3% at 114.2€/MWh
  • US nat gas markets softened yesterday after a further build in US stocks and weaker demand for European exports while the LNG backlog persists.
    • • US Natgas DEC 22 down -1.6% at 5.78$/mmbtu
    Energy BulletsCommodities
    Energy BulletsCommodities

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