“European Natural Gas Prices Hit 2-Year Low Due to Surplus Supply and Warm Temperatures: Updates and Analysis”

2023-05-18 14:58:34

European natural gas continued to fall and hit a new low for nearly two years on Thursday, as the market remained well supplied, with comfortable storage levels in Europe and rising temperatures dampening demand.

Around 2:00 p.m. GMT (4:00 p.m. in Brussels), the Dutch TTF futures contract, considered the European benchmark, was trading at 29.90 euros per megawatt hour (MWh), shortly following reaching 29.85 euros per MWh, a higher price. seen since June 2021.

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