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European Gas Drops as Mild Weather and Stockpiles Ease Nerves

  • Warmer weather could delay withdrawals from gas storage
  • Prices have dropped about 50% from the highs of late August
Updated on

European natural gas prices extended declines as mild weather and ample stockpiles ease concerns about shortages. 

Benchmark futures declined as much as 6.7% to the lowest level since late July. Higher-than-normal temperatures are seen in the UK and continental Europe in the next two weeks, which is likely to delay withdrawals from gas inventories for heating. It’s adding to signs that the region may be able to get through the winter even with dwindling Russian supply.