European Gas Advances as Market Focuses on Outages, Hot July
- Traders are watching Norway works, potential LNG disruptions
- Demand may jump with forecasts for above-normal temperatures
This article is for subscribers only.
European natural gas rose as traders turned their attention to forecasts for hotter-than-usual weather next month, which likely will stimulate demand at a time when supply risks remain.
Benchmark futures settled 7.9% higher, with more facilities in top provider Norway undergoing prolonged maintenance. That coincides with some models showing a return to above-normal temperatures in the northwest region after brief relief during the next few days.