European Gas Declines Again as Warm Weather Postpones Heating
- Latest forecasts show November is likely to remain mild
- Next-year prices still seen elevated given tight global supply
This article is for subscribers only.
Natural gas prices in Europe fell further as a spell of warm weather delayed the heating season, providing some respite to regional economies on the brink of recession.
Benchmark futures settled 5.8% lower. Prices have declined sharply in recent weeks as a hot October allowed more gas to be pumped into already fuller than normal storage sites. Ample inflows of liquefied natural gas and reduced consumption by industries have also helped offset Russia’s supply cuts.