European Gas Halts Decline Amid Uncertain Outlook for Demand
- EU storage facilities are more than 60% full, GIE data shows
- Slide in prices could spur consumption and interest from Asia
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European natural gas halted its decline, after trading near the lowest level since July 2021, highlighting the uncertain outlook for demand as the region fills up its inventories ahead of next winter.
Benchmark next-month futures fluctuated, after falling below €36 a megawatt-hour on Monday. Prices have more than halved since the start of this year amid stable supply, mild weather and stronger contributions to power generation from renewables.