Natural gas prices continued lower in Europe and the UK as did LNG futures in the past week. Dutch benchmark natural gas futures fell below €24 per megawatt hour to start June at fresh two-year lows, following a 30% drop in May. The same catalysts overhang, fast LNG send out, gas stockpiles, weak demand, mild weather conditions, stronger renewable power generation and subdued demand from Asia have steadily weighed on prices. European economy remains weak with Germany experiencing a recession … Continue reading “Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead”
Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead
Natural gas prices in Europe and the UK continued to slide as did LNG futures in the past week. Fast LNG send out, gas stockpiles and weak demand have steadily weighed on prices. European benchmark Dutch TTF prompt natural gas futures traded at €24.52/MWh Friday continuing its slide under €30/MWh after closing €29.30/MWh Monday, its lowest for any day since 17 June 2021. TTF is down 18.74% for the week, UK gas down 16.09%. In comparison the US benchmark HH … Continue reading “Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead”
Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead
Fast LNG send out, gas stockpiles and weak demand have steadily weighed on prices. European benchmark Dutch TTF prompt natural gas futures traded at €27.78/MWh Tuesday continuing it’s slide under €30/MWh after closing €29.30/MWh Monday, its lowest for any day since 17 June 2021. Gas stockpiles in northwestern Europe (Belgium, France, Germany and the Netherlands) were currently about 56% of capacity, about 63% above its five-year (2018-2022) average for this time of year, Refinitiv said. The move in TTF gas … Continue reading “Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead”
Dutch TTF Natural Gas Below €28/MWh, Lowest Since 17 June 2021
European benchmark Dutch TTF prompt natural gas futures traded at €27.78/MWh Tuesday continuing it’s slide under €30/MWh after closing €29.30/MWh Monday, its lowest for any day since 17 June 2021. The move follows Europe TTF gas being down -7.91% last week, and down -65.67% year on year and in the UK natural gas was down -10.67%, down -54.16% year on year. US benchmark Henry hub rose 14.12%, but still now down -68.35% year on year. Gas stockpiles in northwestern Europe … Continue reading “Dutch TTF Natural Gas Below €28/MWh, Lowest Since 17 June 2021”