European Gas Prices Fall on Forecasts for Mild, Windy Weather
- German, U.K. wind power output set to reach record on Thursday
- Weather outlook helps offset supply worry amid Russia warning
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European natural gas prices fell on expectations that mild and windy weather will provide some relief to the region’s strained energy system.
Warm temperatures at the start of the heating season are set to temper demand, pushing prices lower despite signals from Russia that it won’t ship more gas without quick approval of its controversial Nord Stream 2 pipeline. Strong winds in the U.K. and Germany may also prompt record power output from turbines on Thursday, further reducing the need for gas-fired plants.