European Gas Slips as Sluggish Chinese Data Damps LNG Demand
- China’s weak economic recovery is crimping energy consumption
- German solar power output hit a record high over the weekend
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European natural gas resumed declines as traders focused on sluggish demand, high renewables output and concerns over China’s economic recovery.
Futures for July delivery fell as much as 2.7%. China’s weakness is keeping energy consumption muted that is leaving an abundance of liquefied natural gas in the global market. It is taking away any supply risk for Europe at a time when demand in the continent is also wobbling.