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US and European Gas Markets Dragging Lower

NATURAL GAS

US nat gas prices are following the European market lower. US gas demand is being hit by signs of optimism that Europe will make it through the winter as well as seasonally warm temperature’s limiting heating demand.

  • •US natural gas markets are trading at around March levels having pulled back around 20% on the week.
  • •US nat gas is on track for a 9th straight week of losses or the first time since 1991.
  • •US Natgas NOV 22 down -7.1% at 4.98$/mmbtu
  • •TTF NOV 22 down -12.7% at 111€/MWh

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