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Gas Markets Facing Further Downward Pressure

NATURAL GAS

European gas prices are continuing last weeks downward trajectory fuelled by strong European gas storage levels, coupled with strong LNG imports into the region as well as signs European demand reduction efforts are making significant headway.

  • TTF OCT 22 down -5.1% at 178.27€/MWh

US gas prices have also faced weakness on last weeks EIA data showing stronger than expected gas storage levels, with near record gas production in the US.

  • US Natgas OCT 22 down -1.4% at 7.65$/mmbtu

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