Europe Gas Posts Weekly Loss as Traders Await Price-Cap Clarity
- Gas-storage levels at 90%, strong LNG imports eased nerves
- Still, industry, traders seek clarity on potential price caps
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European natural gas slumped to the lowest in over two months as traders weigh growing winter stockpiles and await more guidance from governments on potential price interventions.
Benchmark futures lost 17% for the week, more than halving from August highs. Yet, overall energy costs for European consumers are still above historic norms, and leaders from the region continue to seek ways to ease the crisis and avoid blackouts during colder months.