European natural gas prices fell due to a market sell-off, surge in Norwegian supply, and warmer-than-average weather.
European natural gas prices fell 4-5% amid a broader market sell-off due to economic concerns and a potential worsening US economy. The decline coincided with a surge in Norwegian supply and warmer-than-average weather, leading to lower demand for natural gas. European storage is currently 85.70% full, contributing to the decline in prices. The Dutch TTF hub's benchmark front-month contract dropped to its lowest level since June 14.
August 05, 2024
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