Europe Gas Rebounds From 16-Month Low With Asia Demand in Focus
- Little sign that lower prices raising consumption in Europe
- China’s gas buying expected to rebound but fall short of 2021
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European natural gas rebounded from the lowest level in 16 months as traders focused on whether supply was strong enough to tackle signs of recovering demand in Asia.
Benchmark futures settled 8.3% higher after tumbling 14% on Monday to the lowest level since September 2021. Europe’s energy crisis has eased dramatically over the past month, taking pressure off politicians and central bankers. Gas inventories are fuller than normal at more than 80%, and liquefied natural gas imports remain strong.