European Gas Prices Ease With Inventories and Demand in Focus
- Region’s fuel stockpiles are about 70% full, near average
- Benchmark futures are still near highest since early March
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Natural gas prices in Europe edged lower amid rising inventories and signs of reduced demand, while supplies from Russia remain steady, albeit at low levels.
Benchmark futures erased earlier gains, though they’re still trading near their highest levels since early March, during the first weeks of Russia’s invasion of Ukraine. Prices rallied last week as state-run Gazprom PJSC curbed flows on the key Nord Stream pipeline to Germany to about 20% of capacity.