Future Of British Business
European Gas Falls for Fourth Week Amid Elusive Demand Pickup
- Supply glut keeps near-term gas contracts at a 21-month low
- Winter futures trade at a premium amid demand uncertainties
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European natural gas headed for a fourth consecutive weekly slide, with demand for the fuel not expected to pick up until later this year.
Near-term futures hit the lowest level since July 2021 earlier this week as industrial consumers wait for lower wholesale costs to be reflected in their energy bills before increasing gas purchases.