European Natural Gas Holds Range Bound
In the first week of September, European natural gas prices stabilized around €32 per MWh, maintaining a level close to a 15-month low of €30.3 reached in mid-August, thanks to abundant supply. Recent data show that EU gas storage is over 78% full, aligning with the bloc’s goal of reaching 80% by early November, when the demand for gas-intensive heating rises due to colder weather. This ample availability aligns with reports indicating a more than 50% increase in liquified natural gas imports since the beginning of the year, securing Europe's energy sources after disruptions in Russian gas flows. Simultaneously, LNG exports from the United States hit a record high in August, following the completion of maintenance at major plants. Nonetheless, concerns about potential supply disruptions in the year's final quarter have led some market participants to speculate on higher prices, with numerous open positions in options set to benefit from a potential price surge.
Download NOW!
No comments:
Post a Comment