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European Gas Rebounds With Demand in Focus After Recent Slump

  • Fuel use by some industries may rise after recent price drop
  • Supplies from Norway remained capped amid maintenance
Updated on

European natural gas prices rebounded as traders weighed the risk of demand picking up in some industries following a recent slump.

Benchmark futures jumped as much as 11% on Friday, erasing an earlier decline. While storage levels in the region are far above seasonal norms and imports of liquefied natural gas continue, a current cold spell is raising consumption. Traders are also closely watching competition with Asia for the fuel as global market remains tight.