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European Gas Falls as Ample LNG Supply Outweighs Colder Weather

  • Cargoes still heading to the region despite lower prices
  • Lower-than-average temperatures are forecast for next week
Updated on

European natural gas prices declined for a second day as strong LNG supply vied with forecasts for colder weather next week that could boost demand.

Benchmark futures fell 6.7%, settling at the lowest level in a week. Imports of liquefied natural gas have been undeterred by the halving of gas prices over the past month, as demand in Asia remains muted. That’s providing a safety net against expectations of colder-than-usual conditions in the UK, Nordics and parts of southwest Europe.