European Energy Prices Fall as Mild Winter Crimps Demand
- Gas storage levels almost unchanged over previous three weeks
- US sellers of LNG favoring Asian destinations over Europe
Gas pipes at the Radeland 2 compressor station on the European Gas Pipeline Link in Radeland, Germany, on Jan. 9.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
European energy prices fell as warmer-than-usual temperatures curb demand for heating.
Benchmark natural gas futures declined as much as 6.5%, while power prices also moved lower. Mild weather has reduced pressure on the region’s gas inventories, with storage levels roughly steady over the past three weeks, at a time of year when countries normally tap their reserves.